US Stock Market Today: Wall Street retreats as rate-cut hopes fade; Nvidia drops 2.6%, Amazon down 2.3%

U.S. equities opened lower on Tuesday as fading expectations of a December Federal Reserve rate cut and concerns over stretched valuations weighed on sentiment. Investors are now awaiting key economic data from the government and Nvidia’s highly anticipated earnings report later this week. At 9:35 AM ET, the S&P 500 slipped 0.4%, the Dow Jones Industrial Average fell 0.8%, and the Nasdaq Composite declined 0.6%. On the macro front, fresh Labour Department data showed jobless claims climbing to a two-month high in mid-October, with filings rising for the week ended October 18.