US markets faced broad selling pressure as WTI crude oil surged over 3% and bond yields hit multi-year highs, overshadowing gains in the AI and energy sectors.
Comcast dropped 6% on weak broadband subscriber outlook.
WTI crude oil surged over 3% on escalating Middle East tensions.
Marvell Technology rallied over 4% as AI infrastructure stocks benefitted.
Nvidia CEO's upbeat AI comments and chipmaker sector gains lifted sentiment.
Meta gained over 6% on positive reviews of its AI assistant Muse.
ExxonMobil rose over 2% as crude oil prices surged to multi-month highs.
S&P 500 fell as inflation fears and rising bond yields weighed on equities.
The S&P 500 retreated 0.48% on Wednesday as mounting inflation concerns and a surge in 10-year Treasury yields to 4.85% pressured equities. While energy stocks and AI-linked chipmakers rallied, the broader market struggled amid escalating Middle East tensions and a deepening trade dispute between the US and Canada.
The index fell due to rising inflation expectations, higher bond yields, and geopolitical instability in the Middle East, which collectively dampened investor sentiment.