U.S. stocks on the 3rd: Dow falls 620 points, Nasdaq declines for first time in 10 days

Wall Street's Dow Jones Industrial Average fell 620.72 points to close at 50,687.07 on Wednesday, down for the first time in six sessions. Geopolitical anxieties escalated following reports of Iranian attacks on Kuwait and U.S. military engagements with vessels, driving up crude oil futures and bond yields, which weighed heavily on major shares. Bucking the downward trend, semiconductor-related stocks attracted buyers, lifting the Philadelphia Semiconductor Index (SOX) by more than 1%.

IBM and Salesforce slid sharply. Sprinklr languished, while Circle Internet Group plummeted. Conversely, Chevron and Sherwin-Williams traded firmly. Medtronic advanced, while GameStop rallied higher.

The Nasdaq Composite Index shed 239.93 points to end at 26,853.97, declining for the first time in 10 sessions. Microsoft and NVIDIA faced selling pressure, while Palo Alto Networks trended lower. MicroStrategy , Palantir Technologies , and Honeywell also closed down. Meanwhile, Meta Platforms remained resilient. Marvell Technology Group and Advanced Micro Devices attracted buy orders, while SanDisk surged.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.