U.S. stocks closed in negative territory on Wednesday, with losses in the Technology, Industrials, and Basic Materials sectors driving broad market weakness across major indexes.
The Dow Jones Industrial Average slipped 0.09%, while the S&P 500 index dropped 1.10% and the NASDAQ Composite fell a sharper 1.88% by the closing bell.
UnitedHealth Group (NYSE: UNH) was the standout performer on the Dow Jones, surging 4.73%, or 17.86 points, to close at 395.62 amid a broader defensive rotation by investors.
Merck & Company Inc (NYSE: MRK) also posted solid gains, adding 3.80%, or 5.39 points, to finish the session at 147.37, extending a recent run of strength in the healthcare sector.
Walmart Inc (NASDAQ: WMT) rounded out the Dow’s top performers, rising 3.46%, or 3.88 points, to close at 116.16, reflecting continued investor confidence in consumer staples names.
On the downside, NVIDIA Corporation (NASDAQ: NVDA) was the heaviest drag on the Dow, shedding 3.09%, or 7.06 points, to close at 221.46 as tech stocks came under renewed selling pressure.
Caterpillar Inc (NYSE: CAT) declined 3.08%, or 23.80 points, to settle at 748.98, while Microsoft Corporation (NASDAQ: MSFT) fell 1.80%, or 9.76 points, to close at 533.69.
Among S&P 500 components, Skydance Corporation (NYSE: SKYD) suffered the steepest single-session loss, tumbling 22.22% to close at 7.06 in what was a dramatic session for the stock.
Dell Technologies Inc (NYSE: DELL) lost 11.27% to settle at 507.93, and Oracle Corporation (NYSE: ORCL) dropped 8.83% to close at 130.55, compounding a difficult day for the broader technology sector.
Market breadth was decidedly negative, with declining stocks outnumbering advancers by 2,097 to 656 on major exchanges, with 58 issues ending the day unchanged.
On the Nasdaq Stock Exchange, 2,633 stocks fell while 784 advanced, and on the New York Stock Exchange, 185 issues ended the session unchanged, underscoring the depth of Wednesday’s broad-based selling.
