The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -1.62%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -1.87%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.98%. June E-mini S&P futures (ESM26) fell -1.62%, and June E-mini Nasdaq futures (NQM26) fell -2.07%.
Stock indexes sold off sharply on Wednesday, with the Dow Jones Industrials falling to a 2.5-week low. Rising geopolitical tensions in the Middle East lifted crude oil prices by more than +2% on Wednesday, sparking losses in stocks and bonds. Chipmakers, AI-infrastructure stocks, and the Magnificent Seven technology stocks all retreated on Wednesday, pressuring the overall market. Also, rising crude oil prices weighed on airline stocks, and trucking companies fell after Amazon expanded its LTL freight offering to all destinations in the US, including third-party warehouses, distribution centers, and retail partners.
