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

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

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.

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.

All three major U.S. stock indexes finished at one-month lows on Monday with investors rattled by doubts over the AI trade, as well as the potential for fewer-than-expected interest-rate cuts by the Federal Reserve.

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,

The blue-chip stock index has outpaced the S&P 500 and the Nasdaq over the past two full trading sessions as investors start to look beyond AI.

The Dow, S&P 500, and Nasdaq fell as the stock market awaits a raft of government data and Nvidia earnings this week.

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

The Dow’s large drop on Thursday was fairly rare in the wake of its close at a fresh record high, according to Dow Jones Market Data