S&P 500, Nasdaq retreat for 4th straight session

US stocks closed in the red on Wednesday, pressured by losses in the technology sector, as the market evaluation of a Federal Reserve report renewed concerns about inflation persistence.

The Dow Jones Industrial Average lost 45 points, or 0.1%, to close at 37,753. It reached 38,036 points during the session.

The Nasdaq Composite plunged 1.15%, or 181 points, to 15,683.

The S&P 500 shed 1.7%, as Nvidia tumbled 3.85%. Amazon, Microsoft, Apple, Meta Platforms and Tesla lost between 1.1% and 0.65%.

Elsewhere, the STOXX Europe 600 Index held steady at 498.5 points.

Germany’s DAX 40 Index remained unchanged at 17,770 points. FTSE 100 added 0.35% to end at 7,847 points. The CAC 40 Index also gained 0.6% to 7,981 points.

The Nikkei 225 closed 1.3% lower at 37,961 points, the first time to break the 38,000 level since February. TOPIX also dipped 1.25% to 2,663 points.