US stocks close slightly lower after volatile Wednesday trading
US stocks ended Wednesday with modest losses, staying near record highs, while oil prices steadied after a sharp decline.
Key Takeaways
AIUS stocks closed with slight losses on Wednesday, remaining close to the all-time highs reached the previous day, while oil prices stabilized after a steep drop.
Trading on Wall Street was volatile following two days of strong gains that gave both the week and August a robust start. However, shares of several major technology companies declined, ultimately pulling the market lower.
The broader S&P 500 index slipped 12.97 points, or 0.2%, to 7,723.55, after spending much of the session in positive territory following a new record high set on Tuesday.
The Dow Jones Industrial Average rose 263.24 points, or 0.5%, to 54,349.12, marking another record close after setting new highs in the previous two sessions.
The tech-heavy Nasdaq Composite fell 221.55 points, or 0.8%, to 26,363.44, weighed down by declines in major technology stocks, including a 4% drop in Alphabet, Google’s parent company, and a 1.1% fall in Microsoft.