Shares of technology companies fell amid doubts about the sustainability of the artificial-intelligence boom.
Nvidia shares fell by more than 2% and are down more than 5% from August peaks.
"Yes, we had great earnings but, with multiples where they are, the market's a bit pricy relative to historic levels, and uncertainty's greater than it is most of the time," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
One closely held generative AI firm, Anthropic, now sports a staggering $183 billion valuation after the startup raised $13 billion from investors in a Series F round.
Elon Musk said Tesla's humanoid robot Optimus will eventually be driving most of the company's value, as the tech giant shifts its focus to robots.
Tesla rival NIO's quarterly loss widened even as revenue rose, with both metrics missing expectations as intense competition weighed on results.