Dow Jones sole riser, breaks 41,000 for first time ever

US stock indices declined on Wednesday due to the pressure from sectors led by information technology, communication services and semiconductors, amid fears of imposing further restrictions on US technology exports.

The Dow Jones Industrial Average added 243 points, or 0.6%, closing at 41,198, hitting its third record close in a row.

The S&P 500 index fell 1.4%, or 78 points, to 5,588, while the Nasdaq Composite Index dropped 512 points, or 2.75%, to 17,996, which is the worst performance of the index since December 15, 2022, when it lost 3.2%.

VanEck Semiconductor ETF (SMH), which tracks the performance of major semiconductor companies, retreated 7.10%, hitting its lowest level in a month, while the value of Nvidia shares fell by 6.6%.

Elsewhere, the STOXX Europe 600 Index dropped 0.45% to 514.8 points, deepening its losses for the third consecutive session.

FTSE 100 closed 0.3% higher to end at 8,187 points. Germany’s DAX Index edged down 0.45% to 18,437 points. The CAC 40 Index closed 0.1% down at 7,570 points.

The Nikkei 225 inched down 0.45%, or 177 points, to 41,097 points. TOPIX, however, rose 0.35% to 2,915 points.

Brent crude futures for September delivery rose 1.6%, or $1.35, at $85.08 per barrel.

WTI crude for August delivery increased 2.6%, or $2.09, to record $82.85 per barrel.

Gold for August delivery dropped by 0.3%, or $7.9, to $2,459.9 per ounce.