U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 100 points on Wednesday.
The Dow traded down 0.35% to 46,129.26 while the NASDAQ fell 0.47% to 22,468.39. The S&P 500 also fell, dropping, 0.40% to 6,630.54.
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Leading and Lagging Sectors
Energy shares jumped by 1.9% on Wednesday.
In trading on Tuesday, materials stocks fell by 1.5%.
Top Headline
Crude oil inventories in the U.S. declined by 0.607 million barrels in the week ending Sept. 19, compared to market estimates of a 0.8-million-barrel gain.
Equities Trading UP
- uniQure N.V. (NASDAQ:QURE) shares shot up 235% to $45.79 after the company announced it entered into a $175 million non-dilutive senior secured term loan facility with Hercules Capital.
- Shares of SHF Holdings, Inc. (NASDAQ:SHFS) got a boost, surging 120% to $7.18 after the company announced it entered into a $150 million common stock purchase agreement with CREO.
- Lithium Americas Corp. (NYSE:LAC) shares were also up, gaining 97% to $6.05 after Reuters reported Trump officials are seeking an equity stake in the company as part of a renegotiation of a $2.26 billion loan for the Thacker Pass lithium project.
Equities Trading DOWN
- WORK Medical Technology Group LTD (NASDAQ:WOK) shares dropped 88% to $0.1081. WORK Medical Technology Group partnered with Hong Kong Web3.0 Standardization Association to collaborate on blockchain and RWA innovations.
- Shares of Firefly Aerospace Inc. (NASDAQ:FCHL) were down 33% to $0.7142.
- Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT) was down, falling 28% to $5.01.
Commodities
In commodity news, oil traded up 2.5% to $64.97 while gold traded down 1.3% at $3,767.30.
Silver traded down 1.1% to $44.105 on Wednesday, while copper rose 3.8% to $4.8220.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.01%, while Spain's IBEX 35 Index rose 0.2%. London's FTSE 100 rose 0.29%, Germany's DAX 40 rose 0.23% and France's CAC 40 fell 0.57% during the session.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.30%, Hong Kong's Hang Seng surging 1.37%, China's Shanghai Composite rising 0.83% and India's BSE Sensex falling 0.47%.
Economics
- Crude oil inventories in the U.S. declined by 0.607 million barrels in the week ending Sept. 19, compared to market estimates of a 0.8-million-barrel gain.
- Sales of new single-family homes in the U.S. jumped by 20.5% from the previous month to an annualized rate of 800,000 units in August.
- Building permits in the U.S. declined by 2.3% to an annualized rate of 1.330 million in August.
- The volume of mortgage applications increased by 0.6% from the previous week in the week ending Sept. 19.
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