US Stocks Extend Losses

2026-01-14 16:30 By Andre Joaquim 1 min. read

US stocks extended their losses on Wednesday amid pessimistic signals for banks and fresh selling for the heavyweight tech sector.

The S&P 500 fell nearly 1% and the Nasdaq 100 slid 1.5%, while the Dow dropped a softer 0.4%.

Tech giants fell sharply as companies in the AI space remained under scrutiny on potential losses from exaggerated datacenter investment pledges, with Oracle, Broadcom, and Intuit sinking between 4% and 6%.

In the meantime, Bank of America fell 4.5% on concerns about expenses while Citigroup dropped 3% despite posting a growth in advisory fees, while Wells Fargo sank 5% after missing estimates.

Besides the uncertain credit outlook, lenders and card providers have been under pressure from President Trump's order to cap credit card fees at 10% for a full year, set to start next week.

In the meantime, the US Supreme Court delayed its rule on challenges to a large portion of tariffs passed by the US president last year.



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