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Stocks closed lower on Wednesday as the market’s attempt to fully recover from Monday’s sell-off failed.
The Dow Jones Industrial index retreated 234.28 points to 38,763.38.
The S&P 500 index dropped 40.53 points to 5,199.50.
The NASDAQ slumped 171.05 points to 16,195.81.
A rollover in Nvidia and other big technology stocks following an early jump led to the major averages rolling over in the afternoon. Nvidia pulled back 5%, while shares of Super Micro Computer tumbled 20% after the server company’s fiscal fourth-quarter earnings missed analyst estimates. Tesla also lost 4.4% and Meta Platforms shed 1%.
Wall Street came off a strong session. The S&P 500 and the NASDAQ each advanced 1%, while the 30-stock Dow added nearly 300 points.
On Monday, the Dow and the broad-market S&P 500 posted their worst session since 2022, fueled by recession worries and the unwinding of the yen carry trade.
Prices for the 10-year Treasury skidded, yields hiking to 3.95% from Tuesday’s 3.89%. Treasury prices and yields move in opposite directions.
Oil prices grew $2.21 at $75.41 U.S. a barrel.
Gold prices slid $4.50 to $2,427.10.
