U.S. stocks dipped on Tuesday as investors gear up for what Federal Reserve chair Jerome Powell will say about the path of interest rates at a key conference later in the week. The Nasdaq slid more than 1% to its lowest in over two weeks as megacaps Nvidia and Microsoft lost 3.

The annual Jackson Hole Economic Symposium takes place later this week. It will attract policymakers from around the world and feature highly anticipated remarks from Federal Reserve Chair Jerome Powell.

The world’s most influential central bankers are gathering in Wyoming this week for the 2025 Jackson Hole Economic Symposium. The economic stakes are far more complicated than a year ago. There’s also a pivotal political one: the independence of the Fed Reserve, the world’s largest and most influential central bank.