Shares in Nvidia dropped after a media report, confirmed late Tuesday by the Journal, suggested it faced growing competition from Google’s AI chips. Nvidia’s stock shed 2.6%; shares are down more than 14% since the chip maker hit a $5 trillion valuation last month.
September retail sales disappointed. Shutdown-delayed government data indicated sales grew 0.2%. Also Tuesday, a Conference Board survey showed consumer confidence dropped more than expected in November. Recent results from retailers show shoppers are hunting for bargains.