US stocks end mixed, weighed down by more losses for tech giants

NEW YORK (AP) — Stocks wavered to a mixed adjacent connected Wall Street arsenic losses for respective tech giants including Microsoft weighed connected the market. The S&P 500 fell 0.1% connected Wednesday, adjacent though much stocks roseate than fell wrong the index. The Dow added 0.4%, and the Nasdaq composite fell 0.4%. Another diminution successful lipid prices helped easiness concerns astir inflation. Brent crude dropped 3.8%, bringing it person to wherever it was earlier the warfare with Iran started. Treasury yields fell successful the enslaved market. Google genitor Alphabet fell. The institution volition regenerate Verizon successful the Dow adjacent week.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier communicative follows below.

NEW YORK (AP) — Stocks wavered successful day trading connected Wall Street Wednesday arsenic large exertion stocks slipped and weighed connected the broader market.

The S&P 500 fell 0.3%. The Dow Jones Industrial Average roseate 235 points, oregon 0.5%, arsenic of 3:19 p.m. Eastern. The Nasdaq composite fell 0.8%.

Technology stocks started the time higher, helping to enactment the market's broader gains amid easing unit from falling enslaved yields and little lipid prices. But the influential tech assemblage is present losing crushed for a 3rd consecutive day. Big Tech companies, particularly those focused connected artificial intelligence, person pricey values that springiness them much sway implicit the market’s broader direction.

Nvidia fell 1.2%, pursuing a 4.1% slump connected Tuesday. Micron Technology, which reports its latest results aboriginal Wednesday, fell 4.1% pursuing its 13.2% plunge connected Tuesday. Microsoft fell 1.3%.

Google's genitor institution Alphabet fell 0.8%. The institution is replacing Verizon successful the Dow connected Monday. The company’s inclusion successful the S&P 500 means much to investors, however, due to the fact that 401(k) accounts are overmuch much apt to see an S&P 500 scale money than thing tied to the Dow.

Alphabet volition go the 5th Magnificent 7 institution to articulation the Dow. The others are Apple, Amazon, Microsoft and Nvidia.

Technology companies, particularly those with a large absorption connected artificial intelligence, person been down Wall Street's record-setting tally passim the year. Analysts person warned, however, that their valuations whitethorn person go stretched.

“The adjacent signifier of the AI concern rhythm is opening to collide with marketplace discipline," said Jason Vaillancourt, main portfolio strategist astatine Columbia Threadneedle, successful a probe note.

Oil prices continued slipping arsenic the U.S. and Iran negociate a imaginable extremity to their war. Brent crude, the planetary standard, fell 3.8% to $73.87 a barrel. It has been trading beneath $80 successful caller days but is inactive supra the astir $70 per tube it was trading astatine successful precocious February earlier the warfare began. U.S. crude prices fell 3.9% to $70.34 a barrel.

Oil companies had immoderate of the biggest losses. Exxon Mobil fell 2.4% and Chevron mislaid 2.3%.

Some of the bigger winners connected Wall Street included homebuilders pursuing support of authorities beneficial to the industry. KB Home surged 16.7% and D.R. Horton jumped 7%.

Treasury yields mostly fell, removing immoderate unit from stocks. The output connected the 10-year Treasury fell to 4.40% from 4.50% precocious Tuesday. The output connected the 2-year Treasury eased to 4.14% from 4.16%.

Treasury yields are inactive elevated from earlier successful the year, particularly the 2-year Treasury, which much intimately tracks anticipated enactment from the Federal Reserve. The cardinal slope has signaled that it is considering raising its benchmark involvement complaint by the extremity of the year. Wall Street is forecasting astatine slightest 1 hike to involvement rates by December, according to information from CME Group.

The Fed is disquieted astir stubborn inflation, which had been rising passim the twelvemonth arsenic tariffs raised the costs for a wide scope of goods. A daze to vigor prices due to the fact that of the U.S. warfare with Iran worsened inflation. Gasoline prices surged and shipping costs rose. The interaction is expected to linger adjacent arsenic lipid and gasoline prices fall.

The cardinal slope volition get a caller update connected ostentation Thursday, erstwhile its preferred measurement for prices is released. Economists expect the Personal Consumption Expenditures terms index, oregon PCE, to amusement that prices roseate 4.1% successful May. That would beryllium the highest level successful 3 years.

“Thursday’s PCE is acceptable to instrumentality connected greater value for markets, particularly since Federal Reserve Chair (Kevin) Warsh was emphatic successful past week’s gathering astir the cardinal bank’s tendency to execute terms stability,” wrote Rick Gardner, main concern serviceman astatine RGA Investments, successful a probe note.

Gold prices fell 3.4% to settee astatine $4,008.80 an ounce. Earlier successful the day, it concisely traded beneath $4,000, and hasn't settled beneath that level since November. Gold was supra $5,000 an ounce earlier successful the year. The precious metallic is often seen arsenic a barometer of the appetite for hazard among investors, with much buying astatine times of accrued anxiousness and much selling arsenic anxiousness eases.

Markets were mixed successful Europe and Asia.

___

AP Business Writers Chan Ho-him and Matt Ott contributed to this report.

Copyright 2026 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.