US stocks faced a decline on Wednesday as investors’ concerns about interest rates coincided with a fresh wave of corporate earnings. Despite starting the day in positive territory, the S&P 500 ended down around 0.6%, while the Dow Jones Industrial Average experienced a more modest 0.1% loss. The Nasdaq Composite led the losses, falling by over 1%.
The market’s movement was largely influenced by Big Tech, as Nvidia saw a drop of almost 4% and Meta slid over 1%. Notably, the tech sector was the worst-performing sector in the S&P 500, registering a decline of nearly 1.5%.
It’s clear that the market’s performance was well impacted by the struggles faced by big tech companies, and concerns about interest rates contributed to the negative sentiment.
