US Stock Market Today: Wall Street Extends Losses
The US stock market opened in the red on Wednesday, extending its losses for a second consecutive session. The Nasdaq Composite fell 1.01% or 247.94 points lower at 23,471.77, the S&P 500 was down 0.61% or 42.20 points at 6,916.62, and the Dow Jones Industrial Average fell 0.29% or 140.59 points lower at 49,051.40.
The American Depositary Receipts (ADRs) of Indian IT giant Infosys Ltd. spiked in the early minutes of trade on the back of its third quarter results and upgraded revenue guidance for fiscal 2026. As of 9:58 a.m. EST, the ADR gained as much as 9.23% to $19.14. The ADR is a tool for multinationals/foreign companies (primarily based outside the US) or organisations to trade on US stock markets, just like regular shares of US companies.
US Tech Titans Weigh on Wall Street
Meanwhile, the US-based tech titans weighed on the Wall Street in early trade. Nvidia Corp. traded 2.46% lower at $181.29, Microsoft Corp. traded 1.39% lower at $463.64, Amazon.com Inc. traded 1.76% lower at $238.26 and Meta Platforms was 1.68% down at $620.56.
Commodities Gain
Commodities gained with US spot gold trading 0.60% higher at $4,615.31 an ounce; while in the crude basket West Texas Intermediate rose 0.70% to $61.61 a barrel and Brent Crude rose 0.76% to $61.57 a barrel.
Currency Market Update
The Bloomberg Dollar Spot Index was little changed, so was the euro at $1.1649. The British pound rose 0.2% to $1.3447 and the Japanese yen rose 0.4% to 158.56 per dollar.
Impact on Indian Markets
The decline in the US stock market could have a ripple effect on the Indian markets, particularly the Nifty 50 and the Sensex. Indian investors and traders should keep a close eye on the market trends and adjust their investment strategies accordingly.
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