The S&P 500 settled slightly lower on Wednesday, after Fed Chair Jerome Powell stated that additional interest rate hikes are on the way this year.
NVIDIA Corporation (NASDAQ:NVDA) shares settled lower on Wednesday following a Wall Street Journal report that the U.S. government is considering semiconductor export limits to China.
Netflix, Inc. (NASDAQ:NFLX) shares gained 3% after Oppenheimer maintained an Outperform rating on the stock and raised its price target from $450 to $500.
Majority of sectors on the S&P 500 closed on a negative note, with utilities and materials stocks recording the biggest losses on Wednesday. However, energy and communication services stocks closed higher during the session.
The Nasdaq 100 rose 0.12% to close at 14,964.58 on Wednesday, amid gains in shares of Microsoft Corp (NASDAQ:MSFT) and Apple Inc (NASDAQ:AAPL).
The S&P 500 fell 0.04%, while the Dow Jones dropped 0.22% to 33,852.66 in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 2.3% to close at 13.43 on Wednesday.
What is CBOE Volatility Index?
The CBOE Volatility Index, popularly known as VIX, is a measure of the equity market’s expectation of volatility based on S&P 500 index call and put options.
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