How major US stock indexes fared Wednesday, 10/23/2024

U.S. stocks closed lower as more steam came out of Wall Street’s huge, record-breaking rally.

The S&P 500 fell 0.9% Wednesday. It was the third loss in a row for the benchmark index, the first time that’s happened in six weeks. The Dow Jones Industrial Average dropped 1%. The Nasdaq composite sank 1.6% as Nvidia and other Big Tech stocks were among the market’s heaviest weights.

Momentum has reversed for stocks since the S&P 500 set a record on Friday as pressure has increased from rising Treasury yields in the bond market. Yields rose again Wednesday.

On Wednesday: