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Nvidia ( NVDA ) falls from record high

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UnitedHealth ( UNH ) down after Q3 results

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Banks broadly gain after earnings

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Indexes down: Dow 0.39%, S&P 500 0.44%, Nasdaq 0.93%

(Updated at 11:55 ET/1555 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Oct 15 (Reuters) -

Wall Street slipped on Tuesday, with the tech-heavy Nasdaq

leading the decline, as a slump in semiconductor and oil stocks

offset strong quarterly results from major banks.

Nvidia ( NVDA ) tumbled 5.6% following a record high close

on Monday, after a report the Biden administration is

considering capping AI-chip exports by U.S. companies.

Chip stocks lost more ground after

results

of chip-equipment-maker ASML Holdings, published

early in an apparent error, showed the company was downbeat on

its 2025 sales. ASML's U.S.-listing dropped 17%, while

an index of chip stocks fell 4.6%.

Energy stocks fell 2.2%, as crude prices fell

due to a weaker demand outlook and after a media report

suggested Israel would not strike Iranian oil targets.

The declines offset broadly positive results from major

banks, as Bank of America ( BAC ) jumped 2% following a

third-quarter

profit

beat, while Charles Schwab ( SCHW ) soared 8.3% after

beating estimates.

The broader Banks index rose 1.3% and was

trading at its highest level in more than two years, while an

index of regional banks gained 2.4%.

Meanwhile, the blue-chip Dow opened at a record high but

fell quickly, weighed down by a 7.3% slump in health insurer

UnitedHealth ( UNH ) after the company forecast 2025 profit

below Wall Street estimates.

"There's a lot of indecision today, with Nvidia ( NVDA ) and some

of the higher flyers seeing more weakness," said Ryan Detrick,

chief market strategist at the Carson Group.

Detrick said investors were likely also booking some

profits after a thin trading session on Monday, when bond

markets were closed for a holiday, as they looked ahead to key

economic data and a continued deluge of earnings over the next

few weeks.

Both the Dow and the S&P 500 closed at record highs on

Monday.

The Dow Jones Industrial Average fell 169.70

points, or 0.39%, to 42,895.52, the S&P 500 lost 25.99

points, or 0.44%, to 5,833.86, and the Nasdaq Composite

lost 173.96 points, or 0.93%, to 18,329.97.

Bucking the decline in tech stocks, Apple ( AAPL ) rose

1.8% to touch a

record high.

A number of S&P 500 companies are scheduled to report

results through the week. The large ones will need to justify

their expensive stock valuations to investors, particularly in

the tech sector, where valuations have grown increasingly

inflated in the past year.

Key economic data, including monthly retail sales and

industrial production figures, are due this week, while Federal

Reserve officials Adriana Kugler and Raphael Bostic are expected

to speak on the day.

San Francisco Fed President

Mary Daly

said that even after September's interest-rate cut,

policymakers were still working to bring inflationary pressures

down.

Traders are pricing in about an 88% chance the Fed will

cut interest rates by 25 basis points in November, according to

CME's FedWatch.

Walgreens Boots Alliance ( WBA ) soared 11.9% after

narrowly beating Wall Street's lowered estimates for

fourth-quarter adjusted profit.

Advancing issues outnumbered decliners by a 1.51-to-1

ratio on the NYSE, and by a 1.19-to-1 ratio on the Nasdaq.

The S&P 500 posted 110 new 52-week highs and no new

lows, while the Nasdaq Composite recorded 138 new highs and 50

new lows.