Wall Street’s record-breaking rally ran into a wall, as worries about potentially worsening trade tensions with China hit stocks of chip companies.
That dragged indexes to their worst day in months on Wednesday, but conditions were less discouraging underneath the surface.
The S&P 500 dropped 1.4%. The Nasdaq composite slumped 2.8%, its worst day since 2022, weighed by losses for Nvidia, Apple and other heavyweights.
Slightly more stocks rose than fell in the S&P 500, and the Dow Jones Industrial Average added 0.6% to its record set a day earlier.
On Wednesday:
The S&P 500 fell 78.93 points, or 1.4%, to 5,588.27.
The Dow Jones Industrial Average rose 243.60 points, or 0.6% to 41,198.08.
The Nasdaq composite fell 512.42 points, or 2.8%, to 17,996.92.
The Russell 2000 index of smaller companies fell 24 points, or 1.1%, to 2,239.67.
For the week:
The S&P 500 is down 27.08 points, or 0.5%.
The Dow is up 1,197.18 points, or 3%.
The Nasdaq is down 401.52 points, or 2.2%.
The Russell 2000 is up 91.40 points, or 4.3%.
For the year:
The S&P 500 is up 818.44 points, or 17.2%.
The Dow is up 3,508.54 points, or 9.3%.
The Nasdaq is up 2,985.57 points, or 19.9%.
The Russell 2000 is up 212.60 points, or 10.5%.
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