Wall Street’s record rally came to a halt on Tuesday after gold prices crossed the $4,000 per ounce mark for the first time. The S&P 500 slipped 0.4%, the Dow Jones fell 0.2%, and the Nasdaq lost 0.7%, ending a seven-day winning streak.

Tesla dropped 4.4% after unveiling cheaper electric car models, while Oracle fell 2.5% amid reports of thin profits in its AI business. Meanwhile, Dell and AMD gained 3.5% and 3.8% respectively, supported by optimism around artificial intelligence. IBM added 1.5% after announcing a partnership with Anthropic.

Investors are divided: some continue to buy tech stocks, while others turn to gold, which has risen more than 50% this year due to debt concerns and expectations of Fed rate cuts.

Intercontinental Exchange rose 1.8% after announcing an investment of up to $2 billion in the prediction market platform Polymarket. Constellation Brands added 1% after reporting stronger-than-expected results.

By the end of the session, the S&P 500 closed at 6,714.59, the Dow Jones at 46,602.98, and the Nasdaq at 22,788.36. In Canada, Trilogy Metals shares tripled after the White House approved the Ambler Road mining project in Alaska.