02.09.202613:35:51UTC+00US Stocks Trade Mixed

US stocks ended mixed on Wednesday as investors weighed the resilience of economic activity against increasingly restrictive financial conditions. The S&P 500 finished little changed, reflecting a 0.4% gain in the Dow Jones Industrial Average offset by a 0.5% decline in the Nasdaq 100.

Geopolitical tensions remained elevated after the US and Iran exchanged strikes, while reports of attacks on tankers near the Strait of Hormuz underscored risks to global energy supplies. The potential inflationary fallout from the conflict, alongside expectations of further Federal Reserve rate hikes, was compounded by widening fiscal deficits and a pickup in corporate bond issuance, pushing sovereign yields higher across the curve.

Technology shares continued to face selling pressure, with Marvell, Palantir, and Seagate each losing more than 2%. Palo Alto Networks slid 7% despite topping earnings forecasts, paring back some of its strong gains earlier in the year. By contrast, Dell surged 10% after beating earnings expectations and raising its revenue outlook. Nvidia advanced 1% amid reports it is in advanced talks to acquire AI startup Hugging Face in a deal valued at about $14 billion.