Stock market today: Nasdaq slides as bank earnings and credit-card cap talk hit Wall Street

U.S. stocks finished lower Wednesday, with the Nasdaq dropping 1% as tech shares tumbled and bank stocks weakened following mixed quarterly results. The S&P 500 slipped 0.53%, the Dow edged down 0.09%, while consumer staples and energy sectors gained ground. The Russell 2000 hit a record close. Traders are now pricing in at least two Federal Reserve rate cuts by year-end. “After a nice run, and so-so or mediocre earnings, you're seeing profit-taking and consolidation” in banks, said Michael O’Rourke, chief market strategist at JonesTrading.

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Why U.S. stocks fell today: Nasdaq slides as bank earnings and China cyber worries rattle Wall Street

Why U.S. stocks fell today: Nasdaq slides as bank earnings and China cyber worries rattle Wall Street

U.S. stocks slipped on Wednesday, with the Nasdaq falling 1% as tech and bank shares took a hit while investors shifted toward safer bets. The Dow dropped 42.36 points to 49,149.63, the S&P 500 lost 37.14 points to 6,926.60, and the Nasdaq slid 238.12 points to 23,471.75. Yet, the small-cap Russell 2000 hit a record closing high. “After a nice run … you’re seeing profit-taking,” said Michael O’Rourke, chief market strategist at JonesTrading.
14 January 2026
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