Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

Most stocks slumped on Tuesday after the latest update on inflation hurt Wall Street’s hopes for lower interest rates. The S&P 500 fell 0.4%, though it’s still near its all-time high set last week, as 90% of the stocks within the index fell.