Stock market today: S&P 500, Nasdaq pull back from records as Nvidia tumbles

Nvidia (NVDA) is facing headwinds from the antitrust probe which could impact its operations and perception in the market, leading to bearish sentiment. Given the current uncertainties, it may struggle in the short to medium term.

The bullish response of US-listed Chinese stocks, particularly Alibaba (BABA) and XPeng (XPEV), to Beijing's loosening fiscal policy implies a positive outlook for the sector. As investors react to anticipated measures aimed at stimulating the economy, these stocks could see further gains.

The overall market is experiencing turbulence which could be exacerbated if inflation figures come in higher than expected, potentially leading to rate hikes. In this case, sectors sensitive to interest rates, like financials and utilities, might see declines.

Tesla (TSLA) has recently reached a 52-week high amid positive sentiment and strong performance in the market, primarily driven by its favorable position with the incoming administration. The momentum may continue in the near term as investors remain bullish on its growth prospects.