Indexes closed modestly lower as AI-linked stocks fell sharply and Kevin Warsh gave no signal on the Federal Reserve’s rate path, leaving investors focused on Thursday’s June non-farm payrolls data.
U.S. stocks finished modestly lower Wednesday, with the Nasdaq underperforming as AI-related shares fell sharply while investors assessed remarks by Kevin Warsh in Portugal for clues on interest rates. Warsh did not provide forward guidance on the Federal Reserve’s rate-setting path, leaving investors focused on Thursday’s June non-farm payrolls report for signs on whether rates should rise, as markets expect. The Dow Jones Industrial Average fell 13.96 points, or 0.03%, to 52,305.24, the S&P 500 lost 16.13 points, or 0.22%, to 7,483.23, and the Nasdaq Composite dropped 173.69 points, or 0.66%, to 26,040.03.