US Stocks Extend Losses as Tech and Banks Slide

2026-01-14 21:01 By Mojdeh Kazemi 1 min. read

Stocks in the US fell for a second straight session on Wednesday, pulling back from record highs as investors weighed early earnings, mixed economic data, and escalating geopolitical risks.

The S&P 500 slid about 0.5%, the Nasdaq led declines with a 1% drop, and the Dow fell roughly 42 points, dragged down by weakness in technology and financial shares.

Chipmakers weighed heavily on sentiment, with Broadcom (4.1%), Nvidia (1.5%), and Micron (1.4%) retreating after reports that Chinese authorities are restricting certain US-made chips and cybersecurity software.

Financial stocks also extended recent losses, as Wells Fargo sank 4.5% on weaker revenue, while Bank of America (-3.8%) and Citigroup (-3.3%) fell despite topping profit estimates, amid concerns over President Trump’s proposed cap on credit card interest rates.

Macro data provided limited relief, with subdued wholesale inflation and solid retail sales reinforcing expectations the Fed will hold rates steady in the near term.



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