U.S. equities saw little movement on Wednesday after Big Tech companies saw a steep drop the day before as a result of a sell-off triggered by fresh concerns about the direction of interest rate cuts.
Near the flatline was the Dow Jones Industrial Average. The Nasdaq Composite saw a 0.1% decline, while the S&P 500 saw a less than 0.1% decline.
A second consecutive weekly decline is being tracked by the three major averages. After soaring more than 340% last year, Palantir was one of the S&P 500’s greatest gainers.
It lost more than 3% for the third day in a row. Following HSBC’s downgrading, chipmaker Advanced Micro Devices saw a 4.5% decline.
Source (CNBC)
