Stocks slipped into the red as markets closed Wednesday, losing gains from earlier in the day as Wall Street failed to recoup losses from Monday\u2019s massive sell-off.<\/p>\n
The\u00a0Dow Jones Industrial Average\u00a0fell 163 points, or 0.4%. The\u00a0S&P 500\u00a0declined 0.5%, while the\u00a0Nasdaq Composite\u00a0dropped 0.7%.<\/p>\n
Earlier in Wednesday\u2019s trading session, the Dow rallied more than 300 points. The broad S&P 500 and the tech-heavy Nasdaq were also higher on the day before turning negative.<\/p>\n
A rollover in\u00a0Nvidia\u00a0and other big technology stocks following an early jump led to the major averages rolling over in the afternoon. Nvidia pulled back 3.5%, while shares of\u00a0Super Micro Computer\u00a0tumbled more than 20% after the server company\u2019s\u00a0fiscal fourth-quarter earnings missed\u00a0analyst estimates.\u00a0Tesla\u00a0also lost 3.4% and\u00a0Meta Platforms\u00a0shed 0.2%.<\/p>\n
The benchmark\u00a010-year Treasury yield\u00a0continued its climb and rose 5 basis points to 3.94%. This marked a return to its level prior to the\u00a0weak jobs numbers\u00a0on Friday that raised concerns of an economic downturn.<\/p>\n
The\u00a0Cboe Volatility Index, known as Wall Street\u2019s \u201cfear gauge,\u201d was last trading at 28.3 after falling to as low as 22 earlier on Wednesday.\u00a0The sharp decline from near 65 on Monday indicates investors\u2019 fears are abating, but still remain elevated from their initial levels at the start of the month.<\/p>\n
\u201cThere\u2019s been some reassurance over the last couple days that things have calmed down a bit. But there are still quite a few unknowns on the horizon, such as how much more unwind there is on the\u00a0yen carry trade, as well as geopolitical headwinds,\u201d said Charlie Ripley, senior investment strategist at Allianz Investment Management.<\/p>\n
On Tuesday, the S&P 500 and the Nasdaq each advanced 1%, while the 30-stock Dow added nearly 300 points on Tuesday. On Monday, the Dow and the broad-market S&P 500 posted their worst session since 2022, fueled by recession worries and the unwinding of the\u00a0yen carry trade.<\/p>\n<\/p>\n
Stocks slipped into the red as markets closed Wednesday, losing gains from earlier in the day as Wall Street failed to recoup losses from Monday\u2019s massive sell-off. The\u00a0Dow Jones Industrial Average\u00a0fell 163 points, or 0.4%. The\u00a0S&P 500\u00a0declined 0.5%, while the\u00a0Nasdaq Composite\u00a0dropped 0.7%. Earlier in Wednesday\u2019s trading session, the Dow rallied more than 300 points. The […]<\/p>\n","protected":false},"author":0,"featured_media":7548,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/7547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=7547"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/7547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/7548"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=7547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=7547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=7547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}