US Stock market indexes on Wednesday closed with their biggest daily losses in a month. Small cap stocks also fell sharply, with the Russell 2000 index posting its biggest daily loss since April 10.
According to preliminary data, the S&P 500 lost 96.25 points, or 1.62 per cent, to end at 5,843.09 points, while the Nasdaq Composite lost 269.49 points, or 1.41 per cent, to 18,873.22. The Dow Jones Industrial Average fell 824.08 points, or 1.92 per cent, to 41,856.74.
Google parent Alphabet’S share price rose, while Nvidia, Apple and Tesla stocks fell.
UnitedHealth Group dropped after a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands of dollars in bonuses to help reduce hospital transfers for ailing residents. HSBC downgraded the stock to “reduce” from “hold”.
Target fell after slashing its annual forecast due to a pullback in discretionary spending.
Wolfspeed plunged following a report that…
