NEWS Desk Global
Apr 171 min
Wall Street's primary indexes experienced declines in volatile trading on Wednesday, with chip stocks leading the losses, while disappointing earnings reports from several industry giants, including insurer Travelers, exacerbated the downward trend.
Initially, all three indexes saw gains, but they later retreated as chip stocks came under pressure, resulting in a 1.7% dip in the Philadelphia Semiconductor Index (.SOX). Notably, AI giant Nvidia (NVDA.O) witnessed a 1.7% decline. The Dow was weighed down by Travelers (TRV.N), which dropped by 8.2% after missing Wall Street's expectations for first-quarter profit. Similarly, JB Hunt Transport Services (JBHT.O) shed 8.3% following lower-than-expected first-quarter results.