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Stock market news today: Stocks fade into the close, Nasdaq leads losses as market rebound loses steam

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Nasdaq Composite News

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Stocks slid on Wednesday as a recent rebound on Wall Street failed to extend into a second trading session.

US stocks slid on Wednesday, failing to extend Tuesday's rebound that snapped a three-day losing streak for the major averages. Losses accelerated into the close as the benchmark S&P 500 fell more than 0.8% and the tech-heavy Nasdaq Composite slid 1.1%. The Dow Jones Industrial Average was off about 0.6%, or nearly 250 points. All three of the major averages had been up more than 1% at some point during the session.

On the earnings side, numbers out of Disney reported early Wednesday showed the entertainment giant turned a profit in its streaming unit for the first time last quarter while the company also raised its full-year earnings forecast. Shares of Disney were down fell more than 4%, however, as investors digested concerns over Disney's park business. Late Tuesday, both Airbnb and Super Micro Computer reported results that disappointed, sending shares sharply lower.

 

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