The U.S. stock market closed lower on Wednesday with losses in key sectors such as Oil & Gas, Utilities, and Basic Materials. The Dow Jones Industrial Average lost 0.51%, the S&P 500 index fell 0.27%, and the NASDAQ Composite index declined 0.18%. Johnson & Johnson (NYSE:JNJ) was one of the best performers on the Dow Jones, while Dow Inc (NYSE:DOW) was among the worst performers of the session.
On the Dow Jones Industrial Average, Johnson & Johnson (NYSE:JNJ) rose 1.49%, while Cisco Systems Inc (NASDAQ:CSCO) added 1.04% and Boeing Co (NYSE:BA) was up 0.81%. However, Dow Inc (NYSE:DOW) fell 2.22%, Amgen Inc (NASDAQ:AMGN) declined 1.73%, and Goldman Sachs Group Inc (NYSE:GS) was down 1.71%. On the S&P 500, First Solar Inc (NASDAQ:FSLR) rose 18.69%, Moderna Inc (NASDAQ:MRNA) was up 13.67%, and Analog Devices Inc (NASDAQ:ADI) gained 10.86%. Meanwhile, Target Corporation (NYSE:TGT) was down 8.03%, Lululemon Athletica Inc (NASDAQ:LULU) lost 7.23%, and Freeport-McMoran Copper & Gold Inc (NYSE:FCX) was down 5.69%. The NASDAQ Composite saw Akoustis Technologies Inc (NASDAQ:AKTS) rise 128.83%, while Edible Garden AG Inc (NASDAQ:EDBL) fell 46.88%.
Shares in First Solar Inc (NASDAQ:FSLR) rose to 5-year highs, while Moderna Inc (NASDAQ:MRNA) rose to 52-week highs. However, Lululemon Athletica Inc (NASDAQ:LULU) fell to 52-week lows, and Edible Garden AG Inc (NASDAQ:EDBL) fell to all-time lows.
The CBOE Volatility Index was unchanged at 12.29, Gold Futures for June delivery were down 1.11%, and Crude oil for delivery in July fell 0.34%. The EUR/USD exchange rate was unchanged at 1.08, while USD/JPY fell 0.07%.
The stock market experienced a downturn on Wednesday with significant losses in several sectors. It is essential for investors to carefully analyze market trends and indicators before making investment decisions. The volatile market environment poses risks and challenges that investors need to navigate with caution. By staying informed and conducting thorough research, investors can better position themselves to mitigate risks and capitalize on potential opportunities in the market.