US Stocks Decline Under Tech Pressure Despite Energy Gains

Wall Street | US Stocks | Nasdaq | S&P 500 | Dow Jones | Tech Companies

US stocks declined during afternoon trading on Wednesday, impacted by sharp losses in major tech stocks, as caution overshadowed the markets ahead of upcoming US inflation data.

The Nasdaq fell by about 1.3%, while the S&P 500 dropped 0.6%, and the Dow Jones Industrial Average lost around 50 points.

Strong Pressure on Tech Stocks

Oracle's stock led the losses with a sharp drop of 5% after reports indicated that its largest data center partner, Blue Owl, rejected support for the company's plan to build a massive $10 billion data center.
Nvidia and AMD shares also fell by about 4% each, while Broadcom's stock declined by nearly 5%, adding pressure on the tech sector overall.

Energy Supports Markets

Conversely, the energy sector performed positively, supported by rising oil prices after US President Donald Trump ordered a "complete and total blockade" on oil tankers subject to sanctions linked to Venezuela, boosting energy companies' stock gains.

Notable Moves in Individual Stocks

Amazon's stock rose by about 0.5% after reports of discussions for the company to invest nearly $10 billion in OpenAI.
Meanwhile, Netflix's stock surged up to 2.5% following news that the board of Warner Bros. is inclined to favor a potential acquisition bid led by Netflix.

Awaiting Inflation Data and Federal Policy

In related news, investors absorbed comments from Christopher Waller, a Federal Reserve board member, indicating support for further rate cuts in the future, while emphasizing caution in decision-making.
Markets are awaiting the Consumer Price Index (CPI) data for November on Thursday, which may play a pivotal role in determining the direction of US monetary policy in the coming period.