Nasdaq Slides; Bitcoin Falls Below $90,000 — WSJ
By Hannah Erin Lang and Katy BarnatoThe Nasdaq Composite and S&P 500 were poised for a fourth consecutive session of declines Tuesday, with tariff fears and economic worries dragging on markets again.Tech stocks were among the hardest hit. Treasury prices rallied, and cryptocurrencies sold off.Investors appear to be reconsidering the artificial intelligence trade, just a day before AI giant Nvidia reports fourth-quarter earnings. The Roundhill Magnificent Seven ETF was headed for a correction, or a drop of at least 10% from a recent high. Energy stocks were another weak spot.A pessimistic consumer confidence report stirred additional concerns that the economy is on shakier footing."Investors are finally realizing that we have a tenuous economic situation - that the foundation is sound, but there are cracks to consider," said Callie Cox, chief market strategist at Ritholtz Wealth Management. "When the ground is shifting underneath your feet, the economy becomes more vulnerable."Investors are also weighing fresh tariff headlines. Trump has said tariffs on Canada and Mexico are set to move forward next week.In recent trading:The Nasdaq Composite fell about 1%, following Monday's tech-led selloff. The S&P 500 dropped roughly 0.3%, and the Dow industrials ticked up.Treasury yields dropped to about 4.3%. They settled Monday at 4.39%, the lowest end-of-day level this year.Bitcoin prices dropped below $88,000 as part of a broader selloff in cryptocurrencies.Consumer confidence fell sharply in February to a reading of 98.3, the largest monthly decline since August 2021.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).