Stocks fall as comeback rally falters; Dow lower by 100 points

Stocks slipped into the red as markets closed Wednesday, losing gains from earlier in the day as Wall Street failed to recoup losses from Monday’s massive sell-off.

Stocks slipped into the red as markets closed Wednesday, losing gains from earlier in the day as Wall Street failed to recoup losses from Monday’s massive sell-off.

The Dow Jones Industrial Average fell 163 points, or 0.4%. The S&P 500 declined 0.5%, while the Nasdaq Composite dropped 0.7%.

Earlier in Wednesday’s trading session, the Dow rallied more than 300 points. The broad S&P 500 and the tech-heavy Nasdaq were also higher on the day before turning negative.

A rollover in Nvidia and other big technology stocks following an early jump led to the major averages rolling over in the afternoon. Nvidia pulled back 3.5%, while shares of Super Micro Computer tumbled more than 20% after the server company’s fiscal fourth-quarter earnings missed analyst estimates. Tesla also lost 3.4% and Meta Platforms shed 0.2%.

The benchmark 10-year Treasury yield continued its climb and rose 5 basis points to 3.94%. This marked a return to its level prior to the weak jobs numbers on Friday that raised concerns of an economic downturn.

https://www.nbcnews.com/business/markets/stocks-rally-second-straight-day-dow-200-points-rcna165532

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