The S&P 500 Index ($SPX) (SPY) Wednesday closed down -0.38%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.85%.
Stocks on Wednesday settled moderately lower, with the Dow Jones Industrials falling back from a new all-time high. Some negative corporate news on Wednesday weighed on the broader market. Dell Technologies closed down more than -12% after reporting weaker-than-expected Q3 total net revenue. Also, HP Inc. closed down more than -11% after forecasting Q1 adjusted EPS below consensus. In addition, Symbotic plunged more than -38 % after saying it could not file its annual Form 10-K for the fiscal year ended September 28, 2024, on time because it needs to assess the financial impacts of an error related to system revenue recognition. Finally, the weakness in chip stocks weighed on technology stocks and the overall market.
