Wall Street Breaks 3-Day Winning Streak

Renewed drops for Nvidia, Tesla, and other former superstars dragged Wall Street lower on Wednesday.

• The S&P 500 fell 64.45 points, or 1.1%, to 5,712.20.
• The Dow Jones Industrial Average lost an early gain and fell 132.71 points, or 0.3%, to 42,454.79.
• The Nasdaq composite fell 372.84 points, or 2%, to 17,899.01.

Big Tech stocks have been at the center of Wall Street's recent sell-off amid worries their prices had grown too expensive in prior years, the AP reports. US auto maker stocks also swung on worries about President Trump's latest tariffs.

Nvidia fell 5.7% to bring its loss for the young year so far to 17.8%. It was the single heaviest weight on the S&P 500 by far. Other AI-related stocks were also weak, including server-builder Super Micro Computer, which fell 8.9%, and power companies hoping to electrify AI data centers. Tesla has been contending with additional challenges, including worries that political anger at its CEO, Elon Musk, will hurt the electric-vehicle maker's sales. Tesla dropped 5.6% to extend its loss for 2025 to 28.3%

Other US automakers went on their own sharp swings after the White House said President Trump would announce tariffs on auto imports at 4pm Eastern, when the US stock market closes. Such moves could hurt US auto giants, which have spread production around North America following prior free-trade deals encompassing the United States, Canada, and Mexico. General Motors sank 3.1%. The stock market had been steadying somewhat following its fall into a correction, and it had been on a three-day winning streak through Tuesday. But strategist have warned the sharp swings likely aren't over yet, with a suite of US tariffs scheduled to arrive early next month.

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GameStop jumped 11.4% after the video-game retailer reported better results for the latest quarter than analysts expected. It also said it would begin investing part of its treasury in bitcoin. Dollar Tree rose 3.1% after it said it's selling Family Dollar to a pair of private equity firms for $1 billion after a decade of trying to make its acquisition of the bargain chain fit. Dollar Tree also reported stronger profit for the latest quarter than analysts expected. Cintas climbed 5.8% after the provider of work uniforms, restroom supplies, and other equipment reported stronger profit for the latest quarter than analysts expected.

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