As traders prepared for additional losses to begin October amid growing tensions in the Middle East, the S&P 500 declined on Wednesday.
The Dow Jones Industrial Average dropped 63 points, or 0.2%, while the broad market index fell 0.4%. The Nasdaq Composite experienced a 0.5% decline.
Nike was the biggest loser on the Dow, with its shares falling more than 7% after the company revised down its full-year outlook ahead of a planned CEO transition. For a second day, the tech industry also faltered, with Tesla falling more than 4% following the release of delivery figures.
The main averages are emerging from a losing session as investor excitement for the new trading session and risk appetite were dampened by growing tensions in the Middle East following Iran’s ballistic missile launch against Israel.
Source (CNBC)
