The Nasdaq Composite and S&P 500 closed Tuesday's session in negative territory, putting an end to their impressive eight-day winning streak. The market retreat was accompanied by an increase in volatility ahead of the highly-anticipated Jackson Hole Economic Symposium, where Federal Reserve Chair Jerome Powell is expected to address the direction of interest rates on Friday.

As investors anxiously await Powell's forthcoming remarks, the Nasdaq 100, composed of leading technology stocks, experienced notable activity. The increased volatility was reflected in the rising VIX volatility index.

Alongside the tech-focused Nasdaq, attention was drawn to Treasury yields and gold prices. The movement in Treasury yields served as an important indicator of market sentiment, while gold prices were closely monitored as a safe-haven asset during times of uncertainty. The price of gold, represented by the symbol GC=F, saw its own fluctuations during the market session.

Investors will undoubtedly focus on Powell's speech on Friday to gain insights into the Federal Reserve's future plans, particularly regarding interest rates. The Jackson Hole Economic Symposium provides a platform for central bankers, policymakers, and economists to discuss key issues impacting the global economy.

The end of the market rally highlights the cautious attitude prevalent among investors as they weigh the ongoing impact of the COVID-19 pandemic and its economic ramifications. The rollercoaster of market volatility in recent months has created an atmosphere of uncertainty, further underscoring the significance of Powell's upcoming speech.

While the Nasdaq and S&P 500 may have temporarily taken a step back, market participants will closely watch how Powell's remarks at the Jackson Hole Symposium will shape the course of future market movements. The outcome of this high-profile event will undoubtedly play a vital role in guiding investor sentiment and determining the trajectory of the stock market in the days to come.