The S&P 500 took a pause from its recent gains on Tuesday as doubts about the sustainability of the artificial intelligence bull trend worried investors.

The broad market index closed down 0.55% at 6,656.92 after reaching a new all-time intraday high earlier in the session and posting a record close on Monday. The Nasdaq Composite fell nearly 1% to settle at 22,573.47, with the losses led by AI names like Nvidia, Oracle and Amazon. The Dow Jones Industrial Average finished 88.76 points, or 0.19%, lower at 46,292.78.

Nvidia shares fell 2.8% a day after the chipmaker announced a $100 billion…