Wall Street’s main indexes declined on Wednesday and the Nasdaq hit a two-week low as a rally in technology stocks cooled and caution prevailed ahead of the Federal Reserve’s highly anticipated Jackson Hole symposium later this week

After driving much of the market’s recovery from the April selloff, tech stocks are pulling back as investors reassess high valuations in the sector. The S&P 500 technology index slid 1.7% on the day.

Deepening concerns of government interference with companies, sources said the Trump administration was looking into taking equity stakes in chip companies such as Intel in exchange for grants under the CHIPS Act – just weeks after unprecedented revenue-sharing deals with Nvidia and AMD.

Nvidia slid 2.8% and Advanced Micro Devices lost 3%, while Intel and Micro

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