U.S. stocks lower at close of trade; Dow Jones Industrial Average down 1.70%

Investing.com – U.S. stocks were lower after the close on Wednesday, as losses in the Telecoms, Basic Materials and Consumer Services sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 1.70% to hit a new 3-months low, while the S&P 500 index lost 1.71%, and the NASDAQ Composite index declined 1.79%.

The best performers of the session on the Dow Jones Industrial Average were Walmart Inc (NYSE:WMT), which rose 0.91% or 1.22 points to trade at 134.77 at the close. Meanwhile, Goldman Sachs Group Inc (NYSE:GS) fell 0.79% or 2.55 points to end at 320.71 and Chevron Corp (NYSE:CVX) was down 0.81% or 1.27 points to 155.01 in late trade.

The worst performers of the session were Caterpillar Inc (NYSE:CAT), which fell 3.39% or 6.04 points to trade at 171.95 at the close. American Express Company (NYSE:AXP) declined 3.09% or 4.74 points to end at 148.74 and JPMorgan Chase&Co (NYSE:JPM) was down 2.88% or 3.34 points to 112.49.

The top performers on the S&P 500 were General Mills Inc (NYSE:GIS) which rose 5.68% to 79.69, Kellogg Company (NYSE:K) which was up 2.04% to settle at 72.93 and Illumina Inc (NASDAQ:ILMN) which gained 1.78% to close at 198.17.

The worst performers were Caesars Entertainment Corporation (NASDAQ:CZR) which was down 8.04% to 41.54 in late trade, Warner Bros Discovery Inc (NASDAQ:WBD) which lost 7.49% to settle at 12.22 and Las Vegas Sands Corp (NYSE:LVS) which was down 6.76% to 36.62 at the close.

The top performers on the NASDAQ Composite were Stabilis Solutions Inc (NASDAQ:SLNG) which rose 73.67% to 8.84, Ecmoho Ltd (NASDAQ:MOHO) which was up 50.34% to settle at 0.17 and Idex Biometrics ASA ADR (NASDAQ:IDBA) which gained 11.45% to close at 6.96.

The worst performers were ShiftPixy Inc (NASDAQ:PIXY) which was down 36.55% to 13.66 in late trade, Sesen Bio Inc (NASDAQ:SESN) which lost 32.74% to settle at 0.45 and Integrated Media Technology Ltd (NASDAQ:IMTE) which was down 29.54% to 0.73 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 2285 to 840 and 124 ended unchanged; on the Nasdaq Stock Exchange, 2697 fell and 1078 advanced, while 250 ended unchanged.

Shares in General Mills Inc (NYSE:GIS) rose to all time highs; up 5.68% or 4.28 to 79.69. Shares in Warner Bros Discovery Inc (NASDAQ:WBD) fell to 5-year lows; down 7.49% or 0.99 to 12.22. Shares in Stabilis Solutions Inc (NASDAQ:SLNG) rose to 52-week highs; up 73.67% or 3.75 to 8.84. Shares in Integrated Media Technology Ltd (NASDAQ:IMTE) fell to all time lows; down 29.54% or 0.30 to 0.73.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 3.06% to 27.99 a new 1-month high.

Gold Futures for December delivery was up 0.66% or 11.05 to $1,682.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 1.02% or 0.86 to hit $83.08 a barrel, while the November Brent oil contract fell 0.75% or 0.68 to trade at $89.94 a barrel.

EUR/USD was down 1.25% to 0.98, while USD/JPY rose 0.19% to 143.99.

The US Dollar Index Futures was up 1.00% at 111.04.