Renewed drops for Nvidia, Tesla and other former superstars dragged Wall Street lower.
The S&P 500 fell 1.1% Wednesday. The Dow Jones Industrial Average lost an early gain to flip to a loss of 0.3%, while the weakness for Big Tech sent the Nasdaq composite to a market-leading loss of 2%.
Big Tech stocks have been at the center of Wall Street’s recent sell-off amid worries their prices had grown too expensive in prior years. U.S. auto maker stocks also swung on worries about President Donald Trump’s latest tariffs. Treasury yields were higher following another mixed report on the U.S. economy.
On Wednesday:
The S&P 500 fell 64.45 points, or 1.1%, to 5,712.20.
The Dow Jones Industrial Average fell 132.71 points, or 0.3%, to 42,454.79.
The Nasdaq composite fell 372.84 points, or 2%, to 17,899.01.
The Russell 2000 index of smaller companies fell 21.54 points, or 1%, to 2,073.83.
For the week:
The S&P 500 is up 44.64 points, or 0.8%.
The Dow is up 469.44 points, or 1.1%.
The Nasdaq is up 114.96 points, or 0.6%.
The Russell 2000 is up 16.85 points, or 0.8%.
For the year:
The S&P 500 is down 169.43 points, or 2.9%.
The Dow is down 89.43 points, or 0.2%.
The Nasdaq is down 1,411.78 points, or 7.3%.
The Russell 2000 is down 156.32 points, or 7%.
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