Stocks Slip as Nvidia Fails to Reignite AI Momentum

Stocks finished mostly lower as enthusiasm around artificial intelligence cooled despite strong earnings from Nvidia, while oil reversed earlier gains on signs of progress in US-Iran nuclear talks. The tech-heavy Nasdaq underperformed, bonds rallied with the 10-year Treasury yield slipping near 4%, and investors continued to reassess AI-driven valuations alongside broader geopolitical and macro crosscurrents.

Key Headlines & Market Movers:

Nvidia Earnings Fail to Spark Rally: Nvidia posted results and guidance that exceeded expectations, but shares fell sharply as investors questioned the durability of its margins and competitive moat in an evolving AI landscape. The pullback weighed heavily on the semiconductor complex and dragged the S&P 500 information technology sector lower, underscoring how elevated expectations are driving price action in AI-linked names.

Oil Reverses on US-Iran Progress, Bonds Gain: Crude erased gains and finished lower after Oman signaled “significant progress” in US-Iran nuclear talks, easing supply concerns at the margin. Treasury yields declined, with the 10-year falling several basis points, reflecting a modest risk-off tone and continued demand for duration as equity volatility lingers and growth expectations are reassessed.

• Mixed Corporate Signals Beyond Semis: Salesforce rose after offering reassurance on long-term growth and announcing a sizable buyback, helping calm fears about AI disruption within software. Elsewhere, earnings reactions were uneven, with strength in select names offset by sharp declines in others tied to AI enthusiasm, while corporate headlines, including deal developments involving Warner Bros. Discovery and Paramount Skydance, added to single-stock volatility.

S&P 500 Sector Performance

Looking Ahead

As markets head into March, investors are balancing resilient earnings against growing scrutiny of AI profitability, elevated positioning in mega-cap tech, and geopolitical developments affecting energy markets. With bond yields drifting lower and sentiment fragile, the next leg for equities will likely hinge on whether upcoming economic data and corporate commentary reinforce confidence in growth without reigniting inflation or policy concerns.

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