Wall Street slumped after a morning rally evaporated, but the losses weren’t as bad as the manic moves that wracked markets worldwide over the last week.
The S&P 500 fell 0.8 percent Wednesday. The Dow Jones Industrial Average fell 0.6 percent, and the Nasdaq composite dropped 1 percent.
Stocks swung lower as Nvidia, one of Wall Street’s most influential companies, went from a morning gain to a loss of 5.1 percent, making it the heaviest weight on the S&P 500. Nvidia and other Big Tech stocks have been struggling on worries their prices shot too high amid Wall Street’s frenzy around artificial-intelligence technology.
On Wednesday:
The S&P 500 fell 40.53 points, or 0.8 percent, to 5,199.50.
The Dow Jones Industrial Average fell 234.21 points, or 0.6 percent, to 38,763.45.
The Nasdaq composite fell 171.05 points, or 1 percent, to 16,195.81.
The Russell 2000 index of smaller companies fell 29.19 points, or 1.4 percent, to 2,035.11.
For the week:
The S&P 500 is down 147.06 points, or 2.8 percent.
The Dow is down 973.81 points, or 2.5 percent.
The Nasdaq is down 580.36 points, or 3.5 percent.
The Russell 2000 is down 74.20 points, or 3.5 percent.
For the year:
The S&P 500 is up 429.67 points, or 9 percent.
The Dow is up 1,073.91 points, or 2.8 percent.
The Nasdaq is up 1,184.45 points, or 7.9 percent.
The Russell 2000 is up 8.04 points, or 0.4 percent.
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