US Stock Market: DJIA, S&P500, Nasdaq and Russell fell over 1% on Wednesday

Following another bumpy day of trading, stocks finished widely down on Wall Street Wednesday, deepening the losses for key indices this year.

The Nasdaq slid 166.64 points, or 1.1%, to 14,340.26, and is currently 10.7% behind its all-time high set on Nov. 19. This drop places the index in what the market refers to as a “correction.”

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The S&P 500 lost 44.35 points, or 1%, to 4,532.76, with 77% of equities in the benchmark index falling. The only sectors that concluded with gains were utilities and home products manufacturers, indicating a move by traders to less hazardous bets. The Dow Jones Industrial Average dropped 339.82 points, or 1%, to 35,028.65.

Apple sank 2.1% on Wednesday, while chipmaker Nvidia fell 3.2%. So far this year, the S&P 500 technology sector has declined more than 8%.

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Small-company stocks, which are another indicator of economic growth optimism, plummeted more than the rest of the market. The Russell 2000 index slid 33.44 points, or 1.6%, to 2,062.78, bringing its year-to-date loss to 8.3%.

Gold prices rose 1.6%, as investors became concerned about concerns in the broader economy. Investors also purchased Treasuries, lowering the 10-year Treasury yield to 1.85% from 1.87% late Tuesday. The yield was roughly 1.5% at the start of the year.

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Procter & Gamble climbed 3.4% on the release of solid financial results. Consumers are prepared to pay greater costs for dish detergent, diapers, and other items, according to the corporation, which boosted its sales forecast for the fiscal year ending in June.

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On Thursday, Wall Street will be treated to more big-company profits. American Airlines, Union Pacific, CSX, and Netflix will all release their most recent financial results.