From Nasdaq:

U.S. stock indexes fell on Wednesday as investors awaited the Federal Reserve’s December meeting minutes for clues on its interest rate path. The benchmark S&P 500 was nearing its all-time high last week, with investors considering aggressive rate cuts after signs of cooling inflation. Shares of rate-sensitive megacap stocks like Nvidia, Apple, and Tesla tumbled as the 10-year Treasury yield climbed for a fourth straight session.

Market experts say that the recent downturn in the market could be seen as a defensive rotation rather than a sign of caution about the equity market. Seven of 11 S&P 500 sectors traded in the red, led by real-estate and consumer discretionary.

Data has revealed that U.S. job openings fell for the third straight month while the Institute for Supply Management’s survey showcased further contraction in U.S. manufacturing activity for December. At 11:29 a.m. ET, the Dow Jones Industrial Average was down 0.62%, the S&P 500 was down 0.59%, and the Nasdaq Composite was down 0.79%.

Small-cap stocks fell 1.4%, and airline stocks were pressured by a 3% jump in oil prices due to an oilfield disruption in Libya. The S&P 1500 passenger airlines index tumbled 3.1%.

Verizon Communications rose 1.2% after a stock upgrade, while Charles Schwab and Blackstone dropped 3.8% and 4.4%, respectively, after being downgraded by Goldman Sachs. SentinelOne dropped 4.4% as the cybersecurity firm plans to acquire Indian cloud security firm PingSafe to expand its cloud capabilities.

Declining issues outnumbered advancers and the S&P index recorded 17 new 52-week highs, while the Nasdaq recorded 39 new highs and 47 new lows.



Read more: US STOCKS-Wall St extends slide ahead of Fed meeting minutes