Tech Stocks Dip Amid Pre-Holiday Trading Lull

Tech stocks experienced a downturn on Tuesday in light trading volumes, impacting major indexes. Nvidia and Apple declined, while Meta Platforms advanced with its new acquisition. Despite market losses, the S&P 500 and Dow Jones are on track for consecutive monthly gains as investors anticipate more Federal Reserve actions and geopolitical tensions remain a concern.

The S&P 500 and Nasdaq posted slight declines on Tuesday as technology stocks faced a second day of pressure amid low trading volumes. Heavyweights Nvidia and Apple dipped, while Meta Platforms saw gains following its acquisition announcement.

Trading was notably sparse as markets prepare for a holiday-shortened week. "I wouldn't read too much into fluctuations during this period of light trading," remarked Art Hogan, chief market strategist at B Riley Wealth. Losses in financial giants Goldman Sachs and American Express also dragged the Dow lower.

Despite the current dip, the S&P 500 and Dow are poised for a robust December, continuing a streak of monthly gains. Meanwhile, attention is focused on the Federal Reserve's strategies and geopolitical risks, including rising tensions involving Russia and Ukraine.

(With inputs from agencies.)