Main US indexes fall; Nasdaq ends off most, down ~1%
Cons Disc weakest S&P sector; Energy leads gainers
Dollar dips; crude falls >1%; gold gains; bitcoin up >3.5%
US 10-Year Treasury yield dips to ~4.14%
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MAIN US INDEXES END RED: MAG 7, BIG BANKS DRAG, BUT SMALL CAPS, REGIONAL BANKS SHINE
The main U.S. indexes fell on Wednesday, led by a sharp drop in the Nasdaq as investors rotated into more defensive areas, while big bank stocks extended recent losses following some mixed quarterly results.
Consumer Discretionary .SPLRCD, Tech .SPLRCT, and Communication Services .SPLRCL were the weakest S&P 500 .SPX sectors on the day. This came as all of the Mag 7 names closed down. The Mag 7 ETF MAGS.K dropped 1.53%.
The S&P 500 banking index .SPXBK tumbled 2% with shares of Wells Fargo WFC.N down sharply after the company missed fourth-quarter profit expectations. That said, regional banks .KRX went the other way with the KRX advancing 1.3%.
In terms of the main indexes, the Dow .DJI ended slightly red, while the S&P 500 .SPX declined 0.53%. The Nasdaq .IXIC lost 1%. With this, value .IVX handily outperformed growth .IGX.
Among indexes that scored record closing highs were the S&P 500 Equal-Weight Index .SPXEW, the S&P 400 mid-cap index .MID, the small-cap Russell 2000 .RUT, the PHLX Gold/Silver Index .XAU, and the S&P 500 Industrials .SPLRCI sector.
It was the Russell 2000's fourth record closing high of 2026. This small-cap index scored nine record closing highs for all of 2025.
Data earlier on Wednesday showed producer prices in the U.S. matched forecasts in November, but retail sales topped expectations, following data a day earlier showing December consumer prices rose as projected.
Here is a snapshot of where markets stood just shortly after 4 p.m. ET.
(Terence Gabriel)
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EARLIER ON LIVE MARKETS:
BOFA CLIENTS TUNE OUT OF EQUITIES OVERALL, BUT TUNE IN TO COMMUNICATION SERVICES CLICK HERE
SMALL CAPS QUIET OUTPERFORMANCE MAY CONTINUE CLICK HERE
FOR STOCKS, 2026 MAY SEE THE EXCITEMENT FADE AND THE REAL WORK BEGIN CLICK HERE
US EQUITIES DIP; TECH AND BANK STOCKS DRAG CLICK HERE
US STOCK FUTURES REMAIN RED AFTER PPI, RETAIL SALES CLICK HERE
EUROPE'S BANKS: THE ONLY WAY IS UP CLICK HERE
THE END OF THE ROAD FOR YEN WEAKNESS CLICK HERE
STOXX, FTSE HITS NEW PEAKS CLICK HERE
BEFORE THE BELL: EUROPEAN FUTURES FLAT, METALS SHINE CLICK HERE
TURBOCHARGED 'TAKAICHI TRADE' PUTS MARKETS ON YEN WATCH CLICK HERE
Wall Street indexes fall https://fingfx.thomsonreuters.com/gfx/mkt/zgvoyenozvd/Pasted%20image%201768404190819.png
Closingsnapshot01142026 https://fingfx.thomsonreuters.com/gfx/buzz/gdvzjekmdvw/Closingsnapshot01142026.png
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
