The U.S. stock market closed with losses on Wednesday, driven by declines in the Technology, Basic Materials, and Oil & Gas sectors, which weighed down equity shares.
At the closing bell on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (DJIA) saw a dip of 0.22%. Simultaneously, the broader S&P 500 index experienced a decline of 0.94%, and the tech-heavy NASDAQ Composite index dropped 1.53%.
Among the standout performers within the Dow Jones Industrial Average were Amgen Inc (NASDAQ: AMGN), which surged by 2.71% or 7.15 points, closing at 271.46. UnitedHealth Group Incorporated (NYSE: UNH) also made gains, climbing by 2.41% or 11.60 points to end at 492.26. International Business Machines (NYSE: IBM) rounded up the list of top gainers with a 2.28% increase, adding 3.34 points to reach 149.86 in late trading.
On the flip side, Intel Corporation (NASDAQ: INTC) registered a significant decline of 4.54%, shedding 1.65 points to finish at 34.69. Microsoft Corporation (NASDAQ: MSFT) followed suit with a drop of 2.40%, losing 7.88 points to close at 320.77, while Apple Inc (NASDAQ: AAPL) saw a decline of 2.00%, down 3.59 points to settle at 175.49.
The S&P 500 saw some notable gains, with Textron Inc (NYSE: TXT) surging 4.94% to 79.38, followed by AutoZone Inc (NYSE: AZO) rising 4.39% to settle at 2,583.83, and Western Digital Corporation (NASDAQ: WDC) closing with a gain of 3.94% at 45.65.
However, Zebra Technologies Corporation (NASDAQ: ZBRA) had a rough session, declining by 6.48% to 235.83 in late trade, while The Mosaic Company (NYSE: MOS) experienced a 5.84% loss, settling at 37.06. Intel Corporation (NASDAQ: INTC) also continued its slide, closing down 4.54% at 34.69.
In the NASDAQ Composite index, Digital Transformation Opportunities Corp (NASDAQ: DTOC) surged by a remarkable 89.56% to 25.97, followed by MSP Recovery Inc (NASDAQ: LIFW) rising 64.14% to 0.15, and Fresh Tracks Therapeutics Inc (NASDAQ: FRTX) gaining 54.48% to close at 0.90.
However, Seelos Therapeutics Inc (NASDAQ: SEEL) took a significant hit, falling 69.49% to 0.31 in late trade, while ARS Pharmaceuticals Inc (NASDAQ: SPRY) declined by 55.79% to settle at 2.92. Molekule Group Inc (NASDAQ: MKUL) also touched all-time lows, with a 42.87% loss, closing at 0.42.
Declining stocks outpaced advancing ones on the NYSE, with 1718 stocks falling, 1208 advancing, and 78 remaining unchanged. On the NASDAQ Stock Exchange, 2324 stocks declined, 1154 advanced, and 131 ended unchanged.
Seelos Therapeutics Inc (NASDAQ: SEEL) and ARS Pharmaceuticals Inc (NASDAQ: SPRY) both hit all-time lows, with Seelos Therapeutics falling 69.49% to 0.31 and ARS Pharmaceuticals declining 55.79% to 2.92. Molekule Group Inc (NASDAQ: MKUL) also touched all-time lows, losing 42.87% to 0.42.
The CBOE Volatility Index (VIX), which measures the implied volatility of S&P 500 options, rose by 7.30% to reach 15.14.
In commodity markets, Gold Futures for December delivery slipped by 0.06%, or 1.25 points, to $1,952.45 per troy ounce. Meanwhile, in the energy sector, Crude oil for delivery in November experienced a decline of 1.32%, or 1.19 points, closing at $89.29 per barrel. The November Brent oil contract also fell by 1.24%, or 1.17 points, trading at $93.17 per barrel.
In the currency market, EUR/USD remained unchanged, holding steady at 1.07, while USD/JPY rose by 0.26% to reach 148.25.
The US Dollar Index Futures gained 0.18%, closing at 105.03.
