Stocks declined on Wednesday as tech companies faced pressure, causing the Dow Jones Industrial Average and S&P 500 to break their recent winning streaks.
The Dow dropped by 51 points (0.1%), the S&P 500 decreased by 0.4%, and the Nasdaq Composite retreated by 0.6%.
Uber’s shares tumbled by 8.5% following the rideshare company’s unexpected net loss and below-par bookings revenue. Meanwhile, Intel saw its stock price drop by over 2% after revising its second-quarter revenue forecast downwards.
Tesla experienced a 4% decline as U.S. prosecutors reportedly investigated potential wire fraud by the electric car maker related to its Autopilot systems, according to Reuters.
Source (CNBC)
