More drops for AI stocks dragged the U.S. market lower, pulling Wall Street to its fourth straight loss and its worst in nearly a month.
The S&P 500 fell 1.2 percent Wednesday. The Dow Jones Industrial Average lost 0.5 percent, and the Nasdaq composite dropped 1.8 percent.
The majority of stocks within the S&P 500 rose, including oil producers that benefited from a jump in crude prices following President Donald Trump’s latest escalation against Venezuela. But continued drops for stocks in the artificial-intelligence industry drowned out such gains. Nvidia was the heaviest weight on the S&P 500. Treasury yields held relatively steady.
On Wednesday:
The S&P 500 fell 78.83 points, or 1.2 percent, to 6,721.43.
The Dow Jones Industrial Average fell 228.29 points, or 0.5 percent, to 47,885.97.
The Nasdaq composite fell 418.14 points, or 1.8 percent, to 22,693.32.
The Russell 2000 index of smaller companies fell 27.01 points, or 1.1 percent, to 2,492.29.
For the week:
The S&P 500 is down 105.98 points, or 1.6 percent.
The Dow is down 572.08 points, or 1.2 percent.
The Nasdaq is down 501.85 points, or 2.2 percent.
The Russell 2000 is down 59.16 points, or 2.3 percent.
For the year:
The S&P 500 is up 839.80 points, or 14.3 percent.
The Dow is up 5,341.75 points, or 12.6 percent.
The Nasdaq is up 3,382.53 points, or 17.5 percent.
The Russell 2000 is up 262.14 points, or 11.8 percent.
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