On Tuesday, US stock markets had a mixed opening, with wariness among investors on account of the increasing tech valuations. The Nasdaq and S&P 500 went down, while the Dow Jones Industrial Average got a little up, thanks to the industrial and financial sectors.

At 9:30 a.m. (EDT), the Dow Jones jumped 0.17% to 47,384.51 points, mainly due to strong performances of major banks and manufacturing companies. On the other hand, the S&P 500 declined by 0.25% to 6,815.64, and the Nasdaq Composite, down by 0.51%, settled at 23,407.72. the latter was mainly due to the tech shares being sold off after their recent rally.

According to market analysts, the red numbers shown by the indices are a result of investor doubts reflecting stretched tech valuations with simultaneous earnings growth slowdowns as a major risk factor. Besides, traders are counting on new US inflation data and Federal Reserve representatives’ remarks as the main source of indications regarding future interest rates hikes.

Nevertheless, the overall market was tonally positive, as the small drops in tech were countered by slight gains in the stocks of energy and banking sectors.