The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.07%. March E-mini S&P futures (ESH26) fell -0.56%, and March E-mini Nasdaq futures (NQH26) fell -1.08%.
Stock indexes settled lower on Wednesday, with the S&P 500 and Nasdaq 100 posting 1.5-week lows. The weakness in chip makers and the Magnificent Seven technology stocks on Wednesday weighed on the broader market. Rising geopolitical risks also undercut stocks as markets await the US response to the turmoil in Iran. Reuters reported that some US personnel have been advised to leave the US Al Udeid Air base in Qatar. The facility was targeted by Iran in retaliatory airstrikes last year after the US attacked Iran’s nuclear facilities. However, on Wednesday afternoon, President Trump said he had been assured that Iran would stop killing protesters, in a signal he could hold off on a threatened military response to the widespread demonstrations.
