U.S. stocks traded lower this morning, with the Dow Jones dipping around 400 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.99% to 39,957.30 while the NASDAQ fell 2.08% to 17,622.81. The S&P 500 also fell, dropping, 1.47% to 5,473.80.

Check This Out: Jim Cramer Calls Axsome A ‘Double Or Nothing Stock,’ Says SAP Is ‘Incredible’

Leading and Lagging SectorsUtilities shares jumped by 0.3% on Wednesday.

In trading on Wednesday, consumer discretionary shares fell by 2.7%.

Top Headline

Alphabet Inc (NASDAQ:GOOG) posted better-than-expected earnings and sales results for its second quarter.

Alphabet reported second-quarter revenue of $84.742 billion, beating the consensus estimate of $84.202 billion. The tech giant reported quarterly earnings of $1.89 per share, beating analyst estimates of $1.85 per share, according to data from Benzinga Pro.

Equities Trading UP                       

• NuZee, Inc. (NASDAQ:NUZE) shares shot up 230% to $3.37.
• Shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) got a boost, surging 202% to $3.93 after falling over 22% on Tuesday.
• Bone Biologics Corporation (NASDAQ:BBLG) shares were also up, gaining 110% to $2.61.

Equities Trading DOWN

• Azitra, Inc. (NYSE:AZTR) shares dropped 75% to $1.23 after the company announced the pricing of a $10 million public offering of 6,665,000 common shares and Class A warrants at $1.50 per share.
• Shares of Nuwellis, Inc. (NASDAQ:NUWE) were down 42% to $2.3995 after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.
• Vintage Wine Estates, Inc. (NASDAQ:VWE) was down, falling 33% to $0.0775 after the company announces bankruptcy filing and voluntary delisting and SEC deregistration.

Also Check This Out: Top 3 Tech And Telecom Stocks That Are Set To Fly In July

CommoditiesIn commodity news, oil traded up 0.9% to $77.66 while gold traded up 0.7% at $2,424.60.

Silver traded up 0.6% to $29.51 on Wednesday, while copper fell 0.6% to $4.1370.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.3%, Germany's DAX fell 0.8% and France's CAC 40 fell 0.8%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 rose 0.1%.

The HCOB Eurozone manufacturing PMI declined to 45.6 in July from 45.8 in June, while services PMI slipped to 51.9 from 52.8. The HCOB France composite PMI climbed to 49.5 in July from 48.8 in the prior month, while German composite PMI declined to 48.7 from 50.4.

The S&P Global Flash UK manufacturing PMI rose to 51.8 in July from 50.9 in June, while services PMI rose to 52.4 in July from 52.1 in the previous month.

Asia Pacific Markets

Asian markets closed lower on Wednesday, with Japan's Nikkei 225 falling 1.11%, Hong Kong's Hang Seng Index falling 0.91%, China's Shanghai Composite Index declining 0.46% and India's S&P BSE Sensex declining 0.35%.

The HSBC India Manufacturing PMI climbed to 58.5 in July from 58.3 the prior month, while services PMI rose to 61.1 in July from 60.5. The au Jibun Bank Flash Japan composite PMI rose to 52.6 in July versus a final reading of 49.7 in June.

Economics

• U.S. mortgage applications declined by 2.2% in the latest week, compared to a 3.9% gain in the prior period.
• The S&P Global flash manufacturing PMI fell to 49.5 in July from 51.6 in June and compared to market estimates of 51.7.
• The S&P Global composite PMI climbed to 55.0 in July from 54.8 in the prior month.
• The U.S. trade deficit in goods shrank to $96.84 billion in June versus a $99.37 billion gap in the earlier month.
• Building permits increased by 3.9% to an annual rate of 1.454 million in June.

Now Read This: Tesla To Rally Around 22%? Here Are 10 Top Analyst Forecasts For Wednesday