US Stock Market Today: Wall Street Extends Losses, Nasdaq Down 1%; Nvidia, Microsoft Top Drags
Nasdaq traded 1.01% or 247.94 points lower at 23,471.77, S&P 500 traded 0.61% or 42.20 points lower at 6,916.62, and Dow Jones traded 0.29% or 140.59 points lower at 49,051.40.
The S&P 500, Dow Jones Industrial Average, and tech-heavy Nasdaq Composite opened in the red on Wednesday, extending their losses for a second consecutive session.
Nasdaq fell 1.01% or 247.94 points lower at 23,471.77, S&P 500 was down 0.61% or 42.20 points at 6,916.62, and Dow Jones fell 0.29% or 140.59 points lower at 49,051.40.
The American Depositary Receipts of Indian IT giant Infosys Ltd. spiked in the early minutes of trade on the back of its third quarter results upgraded revenue guidance for fiscal 2026.
As of 9:58 a.m. EST, the ADR gained as much as 9.23% to $19.14. The ADR is a tool for multinationals/foreign companies (primarily based outside the US) or organisations to trade on US stock markets, just like regular shares of US companies.
Meanwhile, the US-based tech titans weighed on the Wall Street in early trade. Nvidia Corp. traded 2.46% lower at $181.29, Microsoft Corp. traded 1.39% lower at $463.64, Amazon.com Inc. traded 1.76% lower at $238.26 and Meta Platforms was 1.68% down at $620.56.
Commodities gained with US spot gold trading 0.60% higher at $4,615.31 an ounce; while in the crude basket West Texas Intermediate rose 0.70% to $61.61 a barrel and Brent Crude rose 0.76% to $61.57 a barrel.
The Bloomberg Dollar Spot Index was little changed, so was the euro at $1.1649. The British pound rose 0.2% to $1.3447 and the Japanese yen rose 0.4% to 158.56 per dollar.
