Wall Street Extends Losses for Second Day as Tech Giants Weigh on Markets
US stock markets extended losses for a second consecutive session on Wednesday, with the Nasdaq falling 1.01% to 23,471.77 points. Technology giants including Nvidia (-2.46%), Microsoft (-1.39%), Amazon (-1.76%), and Meta (-1.68%) weighed on the markets. Infosys ADR bucked the trend, surging 9.23% to $19.14 following strong quarterly results and upgraded guidance. Commodities showed strength with gold rising 0.60% and crude oil gaining over 0.70%.
*this image is generated using AI for illustrative purposes only.
US stock markets opened in negative territory on Wednesday, marking the second consecutive session of losses across major indices. The technology-heavy Nasdaq Composite led the decline, while commodities provided some bright spots in an otherwise subdued trading environment.
Market Performance Overview
The three major US indices all opened lower, with varying degrees of decline across the board.
| Index | Level | Change (Points) | Change (%) |
|---|---|---|---|
| Nasdaq Composite | 23,471.77 | -247.94 | -1.01% |
| S&P 500 | 6,916.62 | -42.20 | -0.61% |
| Dow Jones | 49,051.40 | -140.59 | -0.29% |
The Nasdaq's 1.01% decline represented the steepest fall among the three indices, reflecting the continued pressure on technology stocks that dominate the index.
Technology Sector Under Pressure
Major technology companies weighed heavily on Wall Street during early trading, with several prominent names posting significant declines.
| Company | Stock Price | Change (%) |
|---|---|---|
| Nvidia Corp. | $181.29 | -2.46% |
| Microsoft Corp. | $463.64 | -1.39% |
| Amazon.com Inc. | $238.26 | -1.76% |
| Meta Platforms | $620.56 | -1.68% |
Nvidia led the declines among tech giants, falling 2.46% to $181.29, while other major players including Microsoft, Amazon, and Meta all posted losses exceeding 1%.
Infosys ADR Surges on Strong Results
In contrast to the broader market weakness, Infosys American Depositary Receipts provided a notable bright spot. The ADR spiked 9.23% to $19.14 in early trading, driven by the company's strong third-quarter results and upgraded revenue guidance for fiscal 2026. As of 9:58 a.m. EST, the ADR maintained its significant gains, demonstrating investor confidence in the Indian IT giant's performance.
Commodities and Currency Markets
Commodities markets showed strength despite equity market weakness, with both precious metals and energy posting gains.
| Asset | Price | Change (%) |
|---|---|---|
| US Spot Gold | $4,615.31/ounce | +0.60% |
| West Texas Intermediate | $61.61/barrel | +0.70% |
| Brent Crude | $61.57/barrel | +0.76% |
In currency markets, the Bloomberg Dollar Spot Index remained relatively unchanged, while the euro held steady at $1.1649. The British pound gained 0.2% to $1.3447, and the Japanese yen strengthened 0.4% to 158.56 per dollar, indicating some dollar weakness against major trading partners.
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