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Tech Stocks Tumble, Dow Edges Lower
15 Oct
Summary
- Dow Jones declined 0.09% while S&P 500 and NASDAQ saw larger drops.
- Unitedhealth Group was a top performer, while NVIDIA and Dell saw significant losses.
- Volatility index surged over 10%, indicating increased market uncertainty.
The U.S. stock market closed lower on Wednesday, with significant declines observed in the Technology, Industrials, and Basic Materials sectors. The Dow Jones Industrial Average registered a modest loss of 0.09%.
However, the S&P 500 index experienced a more substantial drop of 1.10%, and the NASDAQ Composite fell by 1.88%. Unitedhealth Group was among the top performers, while technology giants NVIDIA Corporation and Microsoft Corporation, along with Caterpillar Inc., were among the session's worst performers.
Further down the index, Skydance Corporation shares plummeted 22.22%, reaching 5-year lows. Conversely, Moderna Inc. shares climbed to 3-year highs. The CBOE Volatility Index, a key measure of market fear, surged 10.35% to 16.85, signaling increased investor apprehension.
In commodity markets, Gold Futures for December delivery saw a slight increase of 0.33%. Crude oil futures for November delivery experienced a minor dip, and Brent oil contracts also declined. Currency markets showed minor fluctuations, with EUR/USD remaining unchanged and USD/JPY falling slightly. The US Dollar Index Futures also edged lower.
