U.S. Stocks Close Wednesday Lower
The Dow Jones Industrial Average slipped 42.36 points, representing a 0.09 percent decline, to settle at 49,149.63. The S&P 500 dropped 37.14 points, or 0.53 percent, closing at 6,926.6, while the technology-focused Nasdaq Composite Index plunged 238.12 points—a full 1 percent loss—finishing the session at 23,471.75.
Sectoral performance across the 11 primary S&P 500 categories revealed a divided marketplace, with six segments posting gains despite broader weakness. Energy stocks surged to lead all gainers with a robust 2.26 percent advance, followed by consumer staples climbing 1.18 percent higher. Conversely, consumer discretionary shares suffered the steepest losses, tumbling 1.75 percent, with technology stocks close behind at a 1.45 percent decline.
Banking shares faced intense selling pressure as major financial institutions unveiled their fourth quarter 2025 operating performance, revealing challenges that spooked market participants.
Wells Fargo plummeted 4.61 percent after the banking giant disclosed profits and revenues falling short of Wall Street analyst projections. Bank of America dropped 3.78 percent despite surpassing earnings expectations, as market observers voiced apprehension regarding escalating projected operational costs. Citigroup shares likewise declined 3.34 percent following its quarterly disclosure.
Economic indicators painted a nuanced portrait of the domestic economy's current health and trajectory.
The Bureau of Labor Statistics revealed that the producer price index for November—data delayed due to the recent federal government shutdown—increased 0.2 percent compared to September, coming in marginally below the consensus forecast of 0.3 percent growth.
Meanwhile, retail sales for November expanded by 0.6 percent, substantially outpacing analyst predictions of a 0.4 percent rise, demonstrating persistent strength in household consumption patterns.
Media and entertainment equities experienced volatility amid an escalating corporate acquisition battle centered on Warner Bros. Discovery (WBD).
Netflix declined 1.96 percent following market speculation that its 72 billion U.S. dollar acquisition proposal for WBD's HBO Max streaming platform and production studios might transition to an all-cash transaction structure. Paramount Skydance, which recently unveiled a competing 77.9 billion dollar hostile all-cash takeover bid for WBD, saw its stock edge down 0.49 percent during the session.
Within fixed-income markets, the benchmark 10-year U.S. Treasury yield retreated to 4.14 percent by market close, declining from Tuesday's settlement level of 4.18 percent, reflecting investor rotation toward safer assets.
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