Posted 3/22/2024, 3:09:00 PM
Stocks Slip From Records as Traders Take Breather, Despite Fed and AI Optimism
- Stocks pull back slightly after reaching record highs amid Fed rate cut hopes and AI hype
- Dow down 138 points, S&P 500 down 0.2%, Nasdaq down 0.2% but still near record levels
- Rally driven by confidence Fed will cut rates multiple times despite hot inflation data
- AI excitement boosting tech stocks like Nvidia and Micron after positive updates
- In absence of data, traders take breather while market still heads for best week of year
