The S&P 500 and Nasdaq ended at multi-week lows on Wednesday, with the S&P snapping one of its longest streaks without a daily decline of more than 2%, as lackluster Alphabet and Tesla earnings undermined investor confidence in megacap names. ✓ S&P 500 snaps 356-session run without a 2% decline ✓ Worst single-day performance for Nasdaq since October 2022 ✓ Tesla posts largest daily fall since Sept. 2020 on earnings ✓ Indexes down: Dow 1.25%, S&P 2.31%, Nasdaq 3.64%
The S&P 500 and Nasdaq indeed ended at multi-week lows on Wednesday. Lackluster earnings from Alphabet (Google) and Tesla contributed to the decline, undermining investor confidence in mega-cap tech names. The S&P 500 fell 2.3%, marking its worst one-day performance since December 2022 and breaking one of its longest streaks without a daily decline of more than 2%.