Wall St ends lower as bank CEOs warn of possible pullback

The Dow fell 251.44 points, or 0.53%, to 47,085.24, the S&P 500 lost 80.42 points, or 1.17%, to 6,771.55 and the Nasdaq lost 486.09 points, or 2.04%, to 23,348.64.

NEW YORK: US stocks closed sharply lower on Tuesday as big banks warned that equity markets could be headed for a drawdown, reflecting mounting concerns over stretched valuations.

All three major US stock indices slid well into negative territory after the CEOs of Morgan Stanley and Goldman Sachs stoked fears of a potential market bubble, with the S&P 500 having climbed to a series of all-time highs, largely powered by the artificial intelligence boom.