U.S. stock indices experienced varied losses during trading on Wall Street on Wednesday, with technology stocks leading market declines amid disappointing quarterly earnings and anticipation of potential sanctions that the Chinese government might impose on certain American companies, following Beijing's warnings yesterday coinciding with the retaliatory tariffs it has placed on some U.S. imports in response to Trump's decision to impose a 10% tariff on China.
In terms of trading performance, the American stock indicators after the start of today's session were as follows:
The Dow Jones Industrial Average decreased marginally by 0.06% or 12.8 points, registering at 44,534.49 points. The S&P 500 index fell by 0.22% or 15.35 points, reaching 6,012.59 points. The Nasdaq 100 index, heavily weighted with technology stocks, dropped by 0.6% or 92.24 points, recording 19,498.44 points. Technology sector stocks led the session losses, with Alphabet - Google's parent company - witnessing a decline of 8.14% after announcing a pessimistic outlook regarding cloud computing revenue growth and allocating $75 billion - exceeding expectations - for expanding artificial intelligence this year, raising concerns about its massive investments in technology.
At the same time, AMD's stock dropped by about 10.1% after CEO Lisa Su stated that the company’s data center sales for the current quarter - which account for AI revenue - are expected to decline by approximately 7% compared to the previous quarter. Additionally, Apple's stock lost 1.5% after Bloomberg reported that China's antitrust regulatory body is preparing for a potential investigation into the iPhone maker.
