Main US indexes fall; Nasdaq takes biggest hit, down 1.8%
Tech weakest S&P 500 sector; Energy biggest gainer
Dollar up; gold gains ~1%; crude rallies ~3%; bitcoin down >2%
US 10-Year Treasury yield flat at ~4.15%
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US STOCKS SLUMP AS AI JITTERS RESURFACE
U.S. stocks tumbled on Wednesday, with the Dow .DJI and S&P 500 .SPX suffering a fourth straight session of declines as recent concerns surrounding AI-related stocks reignited.
Oracle ORCL.N dropped more than 5% after the Financial Times reported the company's largest data center partner Blue Owl Capital OWL.N will not back a $10 billion deal for its next facility, although the software company said talks for an equity deal to support its Michigan data center project remain on schedule and do not include Blue Owl.
That pulled the S&P tech .SPLRCT sector down more than 2% for its fourth daily decline in the past five sessions.
Communication services .SPLRCL declined 1.9% as Paramount Skydance PSKY.O lost 5.4% after Warner Bros Discovery WBD.O rejected the company's $108.4 billion hostile bid.
On the plus side, energy .SPNY jumped 2.2%, its biggest daily percentage jump since July 8, as crude prices settled up more than 1% after President Donald Trump ordered a blockage of all oil tankers under sanctions entering and leaving Venezuela.
Declining issues outnumbered advancers by a 1.5-to-1 ratio on the NYSE while on the Nasdaq, declining issues outnumbered advancers by a 2.11-to-1 ratio. The four-day streak of declines for the Dow and S&P marked the longest in a month for each.
Below is your closing market snapshot:
(Chuck Mikolajczak)
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EARLIER ON LIVE MARKETS:
IT'S WAIT-AND-SEE WITH TRUMP'S ADDRESS TONIGHT CLICK HERE
BOFA INSTITUTIONAL CLIENTS INCREASE SELLING - CLICK HERE
FED RATE CUTS MAY REQUIRE SHORT-TERM BOND INVESTORS TO CONSIDER COURSE CORRECTION CLICK HERE
DECK THE HALLS WITH MORTGAGE DATA CLICK HERE
HEALTH TRENDS, WEIGHT-LOSS DRUGS TO FUEL PROTEIN MARKET BOOM, BARCLAYS SAYS CLICK HERE
S&P 500 HAS ANOTHER FLIRTATION WITH ITS 50-DMA CLICK HERE
EU'S CHRISTMAS GIFT TO THE AUTO SECTOR DISAPPOINTS CLICK HERE
OIL 'WIDOW MAKER' GETS A NUDGE FROM VENEZUELA CLICK HERE
EUROPEAN SHARES INCH UP, FTSE LEADS THE WAY CLICK HERE
EUROPE BEFORE THE BELL: FUTURES TICK HIGHER CLICK HERE
UK INFLATION FINAL HURDLE BEFORE BOE VERDICT CLICK HERE
Closing levels Dec 17 https://fingfx.thomsonreuters.com/gfx/mkt/klvyjmwkzpg/Pasted%20image%201766005894180.png