United States (US) stocks were stable on Wednesday following a strong performance on Tuesday trading yesterday.
The Dow Jones and the S&P 500, the two main US stock indexes, fell by 0.75% and 0.76%, respectively, while the Nasdaq, an index focused on technology stocks, fell by 1.01%.
The decline occurred as investors took a cautious approach in scrutinizing company earnings reports and the upcoming presidential election.
Several industries experienced declines, including energy (due to lower oil prices), technology and health.
Big tech companies like Nvidia, AMD, and Broadcom also suffered significant losses.
For example, Nvidia's share price fell by 4.7%, AMD by 5.2% and Broadcom by 3.5%.
In company news, shares of UnitedHealth fell as much as 8.1% after the company gave a weaker earnings forecast.
In contrast, Apple shares rose 1.1% on strong demand for older iPhone models after the new iPhone 16 was launched.
Investors are now awaiting earnings reports from other major companies such as Abbott Laboratories, Morgan Stanley, and Lam Research.
