Stock Market Today, Jan. 14: Nvidia Leads Tech Losses as Investors Cool on AI

The S&P 500 (SNPINDEX:^GSPC) fell 0.53% to 6,926.60 as it again failed to hold the 7,000 mark. The Nasdaq Composite (NASDAQINDEX:^IXIC) slid 1.00% to 23,471.75 on tech weakness, and the Dow Jones Industrial Average (DJINDEX: ^DJI) edged down 0.09% to 49,149.63 in a risk-off session.

Market movers

Mega-cap tech dragged the tape, with Nvidia (NASDAQ:NVDA) falling 1.44% to $183.14 and Microsoft (NASDAQ:MSFT) shedding 2.40% to $459.38. Wells Fargo (NYSE:WFC) sank on mixed earnings and regulatory worries. Exxon Mobil (NYSE:XOM) outperformed after CEO Darren Woods called Venezuela "uninvestable" last week.

What this means for investors

Investors pulled out of tech and artificial intelligence (AI) stocks today, causing the Nasdaq's biggest decline in a month. High-growth stocks have been hit hard by overvaluation fears as well as wider geopolitical shifts.

Bank stocks declined again in spite of strong earnings from Bank of America (NYSE:BAC). There's concern about talk about a potential cap on credit card rates, which could heavily impact bank revenue. Wells Fargo missed revenue estimates.

Uncertainty over Federal Reserve independence has also taken its toll. A Department of Justice investigation into renovation budget overruns has ratcheted up tensions between the White House and the Fed.

While this week's inflation data was lower than expected, the case raises questions about the pace of future rate cuts, reducing appetite for riskier investments. Gold and silver prices continue to rally on increased demand for safe-haven assets.

Bank of America is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Emma Newbery has positions in Nvidia. The Motley Fool has positions in and recommends Microsoft and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.