Stocks have moved sharply lower during trading on Wednesday, with the major averages adding to the modest losses posted in the previous session. The Nasdaq has shown a particularly steep drop amid weakness among tech stocks.
In recent trading, the Nasdaq and the S&P 500 have fallen to new lows for the session. The Nasdaq is down 426.16 points or 2.4 percent at 17,571.19, the S&P 500 is down 84.25 points or 1.5 percent at 5,471.49 and the Dow is down 293.01 points or 0.7 percent at 40,065.08.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.