Wall Street today: Nasdaq tumbles 1%, S&P 500 falls 0.5%, Dow Jones down 0.1%, Nvidia sheds 1.3%, Target tanks 7.3%
Published on 20/08/2025 07:41 PM
US stock indices fell on Wednesday, pulled down by tech stocks and on mixed retail earnings.
As of 1:08 PM Eastern Time, the S&P 500 fell 0.5%, the Dow Jones Industrial Average was down 0.1%, and the Nasdaq Composite was 1% lower.
As of 9:55 AM Eastern Time, the S&P 500 fell 0.6%, the Dow Jones Industrial Average was down 0.1%, and the Nasdaq Composite was down 1.4%.
At the opening bell, the Dow Jones Industrial Average fell 0.4 points, or flat, to 44,922.7. The S&P 500 fell 4.7 points, or 0.07%, to 6,406.62, while the Nasdaq Composite dropped 45.3 points, or 0.21%, to 21,269.667.
Markets will be closely watching Federal Reserve Chair Jerome Powell's speech on Friday at an annual central bankers' gathering in Jackson Hole, Wyoming for signs of whether the Fed is likely to cut interest rates in September.
In the bond market, the yield on the 10-year Treasury edged down to 4.29% from 4.30% late on Tuesday.
Tech stocks continued their decline on Wednesday amid warnings that excitement surrounding artificial intelligence could be inflated.
Chip giant Nvidia’s shares dropped 1.3% and Palantir Technologies stock sank 2.3%.
Lowe’s stock gained 1.9% after the home-improvement retailer posted quarterly profit above analysts’ expectations.
Target shares tumbled 7.3% despite reporting profit better than Wall Street estimates.
TJX, the company behind the TJ Maxx and Marshalls stores, surged 4.9%.
La-Z-Boy shares fell 12.1% after the furniture maker’s weak quarterly profit and revenue.
Gold prices rose on Wednesday on softer US dollar.
As of 1300 GMT, spot gold was up 0.8% at $3,341.89 per ounce. US gold futures for December delivery added 0.8% to $3,385.80.
Among other metals, spot silver rose 0.6% to $37.61 per ounce, while platinum gained 1.9% to $1,331.05. Palladium was up 0.7% at $1,122.93.
Oil prices climbed on Wednesday on a bigger-than-expected weekly drop in US crude inventories.
Brent crude futures were up 56 cents, or 0.9%, to $66.35 a barrel by 10:48 AM EDT (1448 GMT), while US West Texas Intermediate (WTI) crude futures rose 66 cents, or 1.1%, to $63.01.
The US Energy Information Administration said energy firms pulled 6.0 million barrels of crude from inventories during the week ended August 15.
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