NEW YORK, New York - U.S. stocks slumped on Wednesday, with technology stocks dragging down key benchmarks. While traditional industrials showed some resistance, all the major indices ended lower.

The broad Standard and Poor's 500 (^GSPC) closed at 6,926.99, retreating 36.75 points, or 0.53 percent, on the day. The index traded within a range of 6,885.74 to 6,941.30, continuing its consolidation below the recent high of 6,986.33.

The Dow Jones Industrial Average (^DJI) demonstrated relative resilience, dipping only 42.24 points, or 0.09 percent, to settle at 49,149.75. The blue-chip index's narrower decline suggests a rotation out of high-growth sectors and into more established industrial names.

Selling pressure was most acute in the tech-heavy NASDAQ Composite (^IXIC), which tumbled 238.12 points, a significant 1.00 percent drop, to end the session at 23,471.75. The decline points to investor caution ahead of key earnings reports and ongoing sensitivity to interest rate expectations.

Analysts attributed the divergent performance to sector-specific concerns, with mega-cap technology stocks facing headwinds while energy and materials found support. Market participants now turn their focus to upcoming economic data and corporate earnings for clearer directional signals.

U.S. dollar trades flat to lower Wednesday as strength fades on Trump's attacks on Powell

Global currency markets were little changed on Wednesday with the U.S. dollar's upward trend being undermined by the Donald Trump-led launch of a criminal investigation into Fed Chair Jerome Powell.

The euro edged higher against the U.S. dollar, with EUR/USD rising 0.01 percent to trade at 1.1643, reflecting modest support for the single currency during the session.

The U.S. dollar weakened against the Japanese yen, with USD/JPY slipping 0.30 percent to 158.57, as the yen clawed back some ground after recent pressure tied to policy divergence and market volatility.

Against the Canadian dollar, the greenback was little changed. USD/CAD edged down 0.01 percent to 1.3884, with trading largely rangebound amid steady oil prices and subdued domestic data from Canada.

Sterling advanced on the day, with GBP/USD gaining 0.09 percent to 1.3432, as the pound benefited from cautious optimism around the UK economic outlook and relative policy stability.

The U.S. dollar also softened against the Swiss franc, with USD/CHF down 0.07 percent at 0.8002, highlighting a modest bid for traditional safe-haven currencies.

In the Asia-Pacific region, the Australian dollar strengthened slightly, with AUD/USD up 0.04 percent to 0.6683, while the New Zealand dollar outperformed its regional peers. NZD/USD rose 0.17 percent to 0.5746, supported by improved risk sentiment and demand for higher-yielding currencies.

European shares slide while broader global indices show strength Wednesday 

Global equity markets ended Wednesday on a mixed note, with gains across the UK, Canada, parts of Asia and Australia offset by declines in several major European benchmarks and emerging markets.

Canada's main benchmark outperformed its U.S. counterparts. TheS&P/TSX Composite index (^GSPTSE)gained 46.11 points, or 0.14percent, closing at 32,916.47. The positive finish was likely bolstered by strength in the resource and financial sectors, which dominate the Canadian index.

In London, the FTSE 100 closed higher, advancing 47.00 points, or 0.46 percent, to finish at 10,184.35. The index traded between an intraday low of 10,135.35 and a session high that matched its closing level, reflecting steady investor confidence across blue-chip stocks.

Germany's DAX retreated, slipping 134.42 points, or 0.53 percent, to close at 25,286.24. The benchmark touched a high of 25,461.36 earlier in the session before selling pressure pushed it lower by the close. France's CAC 40 also ended in negative territory, falling 16.23 points, or 0.19 percent, to 8,330.97, while the broader EURO STOXX 50 declined 24.78 points, or 0.41 percent, to finish at 6,005.05.

Elsewhere in Europe, the Euronext 100 Index edged down 0.90 points, or 0.05 percent, to 1,780.71. Belgium's BEL 20 was a standout performer, surging 52.28 points, or 1.00 percent, to close at 5,302.37, supported by strength in heavyweight components.

Asian markets were largely higher. Hong Kong's Hang Seng Index gained 151.34 points, or 0.56 percent, ending the session at 26,999.81 after swinging between 26,780.27 and 27,097.72. Singapore's STI Index added 5.38 points, or 0.11 percent, to close at 4,812.51.

In Japan, the Nikkei 225 posted a strong advance, climbing 792.07 points, or 1.48 percent, to finish at 54,341.23, while South Korea's KOSPI Composite Index rose 30.46 points, or 0.65 percent, to 4,723.10. Taiwan's TWSE Capitalization Weighted Stock Index also ended firmly higher, gaining 234.56 points, or 0.76 percent, to close at 30,941.78.

Markets in Southeast Asia were mixed. Indonesia's IDX Composite jumped 84.28 points, or 0.94 percent, to 9,032.58, while Malaysia's FTSE Bursa Malaysia KLCI edged up 2.71 points, or 0.16 percent, to 1,710.91. New Zealand's S&P/NZX 50 Index Gross recorded a strong session, rising 101.66 points, or 0.74 percent, to end at 13,757.71.

Australian equities finished modestly higher, with the S&P/ASX 200 gaining 12.10 points, or 0.14 percent, to close at 8,820.60, while the broader All Ordinaries added 13.30 points, or 0.15 percent, to 9,151.80.

In other markets, India's S&P BSE Sensex slipped 244.98 points, or 0.29 percent, to finish at 83,382.71. Egypt's EGX 30 Price Return Index saw a sharper decline, dropping 625.90 points, or 1.43 percent, to 43,058.30. South Africa's Top 40 USD Net TRI Index edged down 1.79 points, or 0.02 percent, to 7,414.54.

Mainland China's SSE Composite Index ended lower, falling 12.67 points, or 0.31 percent, to close at 4,126.09, while Israel's TA-125 was among the day's strongest performers, rallying 50.60 points, or 1.29 percent, to 3,963.99.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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