The Dow Jones Industrial Average closed at 24117.59 on Wednesday with a loss of -165.52 points or -0.68%. The S&P 500 closed at 2699.63 for a loss of -23.43 points or -0.86%. The Nasdaq Composite closed at 7445.08 for a loss of -116.54 points or -1.54%. The VIX Volatility Index closed at 17.91 with a gain of 1.99 points or 12.50%.
Wednesday’s market movers
U.S. market indexes ended lower on Wednesday after some extreme price volatility. The Trump administration reported it was moderating its approach but still continuing to mitigate some of China’s investment in U.S. technology which led to an afternoon selloff.
Sectors leading losses for the day included technology, consumer discretionary and financials. Top detractors for the day included LendingTree (TREE, Financial), McDonald's (MCD, Financial) and Intel (INTC, Financial).
Economic reports affecting market trading included the following:
- The Mortgage Bankers Association’s mortgage applications index was down -4.9% for the week.
- Durable goods orders were down -0.6% for the month.
- International trade in goods reported a deficit of -$64.8 billion.
- Retail inventories increased 0.4% for the month.
- Wholesale inventories increased 0.5% for the month.
- The Pending Home Sales Index was down -0.5% for the month.
- The EIA Petroleum Status report showed a decrease of -9.9 million barrels for the week.
In the Dow Jones Industrial Average the following stocks led losses:
- McDonald's (MCD, Financial) -2.17%
- Intel (INTC, Financial) -1.83
- Nike (NKE, Financial) -1.67%
- Microsoft (MSFT, Financial) -1.55%
- JPMorgan (JPM, Financial) -1.51%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1640.45 for a loss of -28.07 points or -1.68%. The S&P 600 closed at 1017.36 for a loss of -15.95 points or -1.54%. The Dow Jones Small-Cap Growth TSM Index closed at 10088.06 for a loss of -187.64 points or -1.83%. The Dow Jones Small-Cap Value TSM Index closed at 10342.15 for a loss of -116.72 points or -1.12%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1942.81 for a loss of -22.30 points or -1.13%; the S&P 100 at 1185.25 for a loss of -9.89 points or -0.83%; the Russell 3000 at 1608.39 for a loss of -15.70 points or -0.97%; the Russell 1000 at 1499.44 for a loss of -13.70 points or -0.91%; and the Dow Jones US Select Dividend Index at 698.61 for a loss of -2.07 points or -0.30%.
