US stocks were mixed on Wednesday, seesawing the day after a steep sell-off fueled by worries about economic growth. The S&P 500 fell around 0.2% while the tech-heavy Nasdaq Composite fell about 0.3%. Meanwhile, the Dow Jones Industrial Average closed about 0.1% higher. Stocks had begun the week with a sharp pullback as Nvidia shares slumped, an indication that faith in the AI boom that has driven much of this year's gains is seeping out of the market.
In an up-and-down trading session on Wednesday, stocks appeared to turn positive after fresh data showed further signs of the labor market cooling, prompting bond yields to fall and investors to ramp up their hopes for more extensive interest rate cuts in 2024. Data showed job openings fell to 7.67 million in July, the lowest level since January 2021.
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