How major US stock indexes fared Wednesday, 7/17/2024

Wall Street’s record-breaking rally ran into a wall, as worries about potentially worsening trade tensions with China hit stocks of chip companies. That dragged indexes to their worst day in months on Wednesday, but conditions were less discouraging underneath the surface. The S&P 500 dropped 1.4%. The Nasdaq composite slumped 2.8%, its worst day since 2022, weighed by losses for Nvidia, Apple and other heavyweights. Slightly more stocks rose than fell in the S&P 500, and the Dow Jones Industrial Average added 0.6% to its record set a day earlier.