U.S. Stocks Stumble Amid Geopolitical Tensions and Economic Forecasts

On Wednesday, U.S. stock markets took a pause from a recent rally, affected by the fragile ceasefire between Israel and Iran and the Congressional testimony of Federal Reserve Chair Jerome Powell. The Nasdaq saw a rise, powered by tech shares, but the S&P 500 remained flat, while the Dow declined.

Ryan Detrick, chief market strategist at Carson Group, noted, "It's almost like watching paint dry as we're all waiting for the S&P 500 to make new highs." Nvidia shares hit a peak, increasing its market value to $3.75 trillion, making it the world's most valuable company.

Meanwhile, economic forecasts remain uncertain. FedEx shares declined after a profit estimate below expectations due to tariff impacts, while cyber security firm BlackBerry saw a share price increase following a positive revenue forecast. With economic uncertainty, investors remain cautiously optimistic about the market's resilience.

(With inputs from agencies.)