U.S. stocks closed lower on Wednesday as investors weighed earnings, Fed minutes and trade tensions ahead of Nvidia's results. The S&P 500 and Nasdaq each fell 0.5%, and the Dow dropped 224 points.
Nvidia shares rose 1% ahead of earnings, which are seen as a key test of AI-driven market optimism. The Fed minutes reflected a cautious stance, warning of "difficult compromises" amid economic uncertainty. Trade concerns resurfaced after the Trump administration asked U.S. companies to halt some semiconductor software sales to China, putting pressure on Cadence and Synopsys.
Okta fell more than 13% on weak guidance, while Abercrombie & Fitch jumped 16% and Dick's rose 2% after strong reports. As Nvidia's release looms, investors are hoping the AI leader can restore market momentum or risk adding volatility depending on signals related to demand and China exposure. (alg)
Source: Trading Economics
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