Stocks fell Wednesday as investors reassessed their holdings after a strong first half of the year, powered by AI plays.
The S&P 500 was on course for its fourth losing day in five, capping off a roughly 15% six-month gain.
The Dow Jones Industrial Average fell 111 points or 0.3%. The S&P 500 and Nasdaq Composite dropped 0.2% and 0.1%, respectively. FedEx rose 14% after reporting adjusted earnings that above expectations in the fiscal fourth quarter.
Rivian Automotive rose 36% after Volkswagen Group announced plans to spend up to $5 billion in the electric vehicle firm.
Source (CNBC)
