After showing a lack of direction earlier in the session, stocks have moved significantly lower over the course of the trading day on Wednesday. The major averages have moved more firmly into negative territory, with the tech-heavy Nasdaq showing a particularly steep decline.
Once again, a notable increase by the price of oil is contributing to the weakness in the markets, with oil-sensitive airline stocks turning in some of the market's worst performances. Steel, gold, and housing stocks are also under considerable selling pressure.
The major averages have moved roughly sideways in recent trading, lingering well below the unchanged line. The Dow is currently down 47.80 at 11,334.46, the Nasdaq is down 24.57 at 2,280.40 and the S&P 500 is down 5.87 at 1,279.04.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.