Home Depot, Cloudflare, Nvidia, and More

Major U.S. equities indexes extended their slide Tuesday afternoon, amid worries about an AI bubble. The Dow Jones Industrial Average and Nasdaq were down about 1%, while the S&P 500 fell 0.6%.

Home Depot (HD) shares fell 4% after the home-improvement retailer reported disappointing third-quarter earnings and cut its full-year profit outlook.

Cloudflare (NET) shares declined 3% after the web security company was affected by an outage that hit several prominent customers, including social media site X and ChatGPT.

Shares of Nvidia (NVDA), which reports quarterly results after the bell Wednesday, were down 3%. Microsoft (MSFT) shares were also about 3% lower after the two Magnificent 7 members announced partnerships with Claude AI developer Anthropic. Nvidia and Microsoft said they will invest up to $10 billion and up to $5 billion, respectively, in Anthropic as part of the deals.

Medtronic (MDT) shares rose 4% after the maker of medical devices reported better-than-expected fiscal 2026 second-quarter results and lifted its full-year outlook.

Shares of crypto-treasury firm Strategy (MSTR), which entered Tuesday down 27% this month as the price of Bitcoin has tumbled, rebounded roughly 6% along with the price of the largest cryptocurrency.

Merck (MRK) stock advanced 4% after the pharmaceutical firm announced positive results from a Phase 2 trial of a heart drug.

Oil and gold futures slipped. The yield on the 10-year Treasury note edged lower. The U.S. dollar was little changed against the euro, pound, and yen. Prices for most major cryptocurrencies were higher.