The S&P 500 Index ($SPX) (SPY) Wednesday closed down -0.56%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.45%. June E-mini S&P futures (ESM25) are down -0.50%, and June E-mini Nasdaq futures (NQM25) are down -0.40%.
Stock indexes on Wednesday gave up an early advance and turned lower as an increase in bond yields undercut support for equities. The 10-year T-note yield on Wednesday rose +4 bp to 4.48%. Stock losses accelerated Wednesday afternoon as US chip software designers plunged when the Financial Times reported that President Trump told a group of US companies offering software to design semiconductors to stop selling their services to China.
