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%.
Oil Slides on Strait of Hormuz Optimism; Energy Shares Show Defiance
Oil’s two-day decline has narrowed roughly 60% of the distance between Friday’s Brent finish and the scenario for full reopening presented by Goldman Sachs. However, major energy stocks have seen only minor changes. This gap stands out as the most obvious message from investors.
Dividend ETFs under pressure with oil, rates and AI trades splitting markets
NEW YORK - Retail money keeps landing in dividend ETFs, but the tape isn’t making it easy. SPDR S&P 500 ETF Trust slipped 0.77% by 10:47 a.m. in New York. Schwab U.S. Dividend Equity ETF dropped 0.25%, Vanguard High Dividend Yield ETF was down 0.40%, and JPMorgan Equity Premium Income ETF fell 0.60%. The real test now is less about yield screens and more about which income ETF can hang onto cash when oil, rates and equities drop at once.
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