S&P 500, Nasdaq, Dow decline; oil rally intensifies AI slide ahead of Fed
U.S. cash markets traded sharply lower on Wednesday, with the S&P 500 down 0.7% as of 10:30 a.m. The Dow declined 1.4%, and the Nasdaq slipped 1%.

Apple is set for a significant valuation hurdle ahead of its fiscal third-quarter results due Thursday. Shares finished Wednesday at $338.19, a decline of about 0.6%, putting the company's market value close to $4.98 trillion. At 07:06 EDT, regular U.S. trading had not yet begun.
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