Stocks closed markedly lower on Tuesday as fears of a bubble in artificial intelligence technology hammered markets for a fourth consecutive trading day.

Major stock indexes ended sharply lower to begin the week, which will see AI darling Nvidia and retail giants report quarterly results, as well as the release of the September jobs report delayed because of the U.

Over 320 of the S&P 500’s components ended trading at least 10% below their 52-week highs on Tuesday, while the index was off 4% from its recent high

U.S. futures were largely flat early Wednesday as traders braced for a packed day of earnings headlined by Nvidia (NASDAQ:NVDA). The chipmaker’s quarterly update is expected to be a major catalyst for sentiment around the booming – and increasingly volatile – artificial intelligence trade.

Investors drove the Dow to back-to-back record gains shrugging off concerns about an AI bubble and the lack of economic data tied to the government shutdown.

The Dow Jones Industrial Average posted a record high upon closing on Tuesday, while the Nasdaq Composite finished down as investors sold tech stocks.

US indices attempt to recover on Wednesday as major benchmarks test key technical levels. The Nasdaq 100, Dow Jones 30, and S&P 500 all face pivotal EMA and trendline areas, with Nvidia’s earnings likely to influence the broader market direction.

Nvidia reported record revenue for the third quarter of $57.0 billion, up 22% from the previous quarter and up 62% from a year ago. Following the release of the AI chipmaker's earnings reports, US stock index futures experienced a general increase in trading on Wednesday,

This ETF is beating the Dow by a better than 5-to-1 margin this year -- and thanks to its AI intersections, the good times could continue in 2026.

Bitcoin sank below the $90,000 price level in morning trade and fell to a level not seen since April, before reversing 1.7% higher to around $93,300. The cryptocurrency has given back all of its gains from this year and is around 26% below its record high of $126,000 reached in October.