\n US stocks extended losses Wednesday morning ahead of the Federal Reserve\u2019s decision on interest rates.\n <\/p>\n
\n The Dow dropped 750 points, or 1.44%. The S&P 500 fell 0.75%, and the tech-heavy Nasdaq sank 1.1%.\n <\/p>\n
\n The Dow erased its gains from yesterday, when it closed higher by 537 points. The index was set to snap a three-day winning streak.\n <\/p>\n
\n As tech and AI stocks sold off<\/a> in recent weeks, investors rotated into other sectors like financials and industrials, helping boost the Dow. But the blue-chip index tumbled on Wednesday as investors dumped stocks across different sectors.\n <\/p>\n \n Goldman Sachs (GS<\/a>) and Caterpillar (CAT<\/a>) each dropped about 4%, weighing on the Dow. The index is price-weighted, so the larger a company\u2019s share price, the more influence it has. Goldman and Caterpillar have the largest share prices in the index.\n <\/p>\n \n All told, the Dow is down just 2% since hitting a record high above 53,000 points in early July.\n <\/p>\n \n Meanwhile, weakness in tech and AI continues to weigh on markets: The Nasdaq is down about 9% since its last record high in early June, putting it on the cusp of a so-called correction.\n <\/p>\n \n Elsewhere in markets, oil prices rose and Treasury yields moved higher. The US 10-year yield rose to 4.63%.\n <\/p>\n","protected":false},"excerpt":{"rendered":"US stocks extended losses Wednesday morning ahead of the Federal Reserve\u2019s decision on interest rates. The Dow dropped…\n","protected":false},"author":2,"featured_media":791525,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-791524","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/791524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=791524"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/791524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/791525"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=791524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=791524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=791524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}