Stocks began to decline as the market was unable to continue recovering its losses from Monday’s sell-off, giving up gains made earlier in the session.
Dropping 163 points, or 0.4%, was the Dow Jones Industrial Average. In contrast, the Nasdaq Composite fell 0.7% and the S&P 500 fell 0.5%. Over 300 points were gained by the Dow earlier in Wednesday’s trading session.
The tech-heavy Dow and the broad market index both saw daytime gains before closing down. The afternoon session saw a rollover in the major averages due to a rally that started early in Nvidia and other large technology firms.
After the server company’s fiscal fourth-quarter earnings failed analyst estimates, Super Micro Computer’s shares fell more than 20%, and Nvidia withdrew 3.5% of its shares. Also down 3.4% was Tesla.
Source (CNBC)
