Trader Michael Burry, famous for calling the 2008 housing crisis, has announced bets against Palantir and Nvidia.

Palantir shares were down 7% in Tuesday’s midday session despite upbeat earnings as concerns about valuation gained momentum.

The Dow gave up 0.6% in afternoon trade. The Nasdaq composite sank further for a 1.7% decline, and the S&P 500 retreated 1.1%, with Palantir stock sliding more than 7%. Small-cap stocks on Tuesday ...