New York —

Tech stocks were under pressure this week as Wall Street’s AI enthusiasm slowed and investors adjusted portfolios after a strong summer rally.

The Nasdaq Composite fell 0.67% on Wednesday after sliding 1.46% on Tuesday. The tech-heavy index was on track to snap back-to-back weeks of gains.

Meanwhile, the broader S&P 500 fell 0.24% and posted its fourth day of losses in a row. The Dow hovered around the flatline.

Tech stocks had steadily rallied in recent months, lifting the S&P 500 and Nasdaq to a streak of record highs . Now Wall Street is taking a breather while optimism about the AI boom is facing some friction.

Palantir ( PLTR ), a star of the AI trade, fell 1.1% on Wednesday after falling 9.35% on Tuesday. Meanwhile, Nvidia ( NVDA ) edged lower by 0.14% on Wedn

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