Cash News
US stocks dipped into negative territory as the market showed signs of struggling to recover ground after tumbles in recent sessions.
The S&P 500 was down 0.5 per cent in afternoon trading on Wednesday, while the Nasdaq Composite shed 0.7 per cent. The indices had been up as much as 1.7 per cent and 2.1 per cent, respectively, in early trading.
The turnaround means stocks are struggling to lock in gains from Tuesday, when the S&P 500 and Nasdaq each recovered by 1 per cent after cumulative drops of 6 per cent and 8 per cent, respectively, in the previous three sessions.
Several disappointing earnings results also weighed on sentiment.
Super Micro Computer dropped almost 20 per cent, as investors weighed the outlook for the artificial intelligence boom.
Airbnb, down 14.7 per cent, and Walt Disney, down 3.2 per cent, set off concerns about a broad consumer slowdown.