Stocks dropped in morning trading, with major indexes losing ground amid broad-based selling. Here’s what we’re watching during Wednesday’s regular session.
-
jumped after the data-software company said it was selected for a U.S. Army intelligence program contract.
-
shares edged down after the company spent a day in the headlines amid a whistleblower’s testimony on Capitol Hill and a widespread outage of its services.
- An early downdraft in several major tech stocks mostly reversed, with
Google-parent
and
recovering from an early swoon.
however was still down an hour after the open.
Tim Cook talked about the new iPhone 13 during the Apple event on Sept. 16, 2021.
Photo:
Apple Inc.
- Cryptocurrencies turbo-charged by Tesla CEO
Elon Musk
got another boost Wednesday. The token Shiba Inu gained 48% over the previous 24 hours, adding to a days-long rally after Mr. Musk posted a new photo of his Shiba Inu puppy named Floki on Monday. The coin now has a market value of $9 billion, making it the twentieth largest cryptocurrency, according to CoinMarketCap.com. Dogecoin, a favorite of Mr. Musk’s, also rose 3% over the previous 24 hours.
- Shares of
and
were both weighed down by concerns about fuel costs and a slowing economic growth.
-
soared after the industrial-technology company said its profit for the fiscal fourth quarter rose as sales benefited from improved service levels and an improving economy.
- Vaccine makers
and
look set to remain stuck in the doldrums that began after Merck’s successful test of its Covid-19 treatment.
shares were also down.
- Business-development company
‘s stock nudged up after it reported record repayments during the second quarter.
-
will give an earnings update after the close.
Chart of the Day
- Silver prices just wrapped up their worst four-month stretch since November 2014, dragged down by expectations for higher interest rates and a slowdown in manufacturing activity.
Write to James Willhite at james.willhite@wsj.com
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