US Stocks End Three-Day Losing Streak as Tech and Financial Shares Diverge Sharply

Major US indexes snapped a three-day slide on Wednesday, August 19, with the Dow Jones Industrial Average rising 0.22% to 53,463, the S&P 500 gaining 0.21% to 7,708, and the Nasdaq Composite edging up 0.16% to 26,331, as easing bond market pressure gave equities room to recover. The broad advance masked significant losses in several high-profile names. Dell Technologies fell 6.64% to close at $437.51, CrowdStrike dropped 5.3% to $201.63, and NetApp sank 5% to $194.48.

Palo Alto Networks shed 3.76% to $360.08, Citigroup fell 3.46% to $132.89, and Goldman Sachs declined 1.81%. JPMorgan Chase and Wells Fargo each slid roughly 1.65% to 1.67%, closing at $357.26 and $85.94 respectively, while Okta lost 1.88% to finish at $141.21. Broadcom and Wolfspeed also traded lower on the day.

On the upside, Workday, Bill.com, and Webull moved higher, and Rocket Companies, Newell Brands, Gartner, Omnicom, Dow Inc., Leidos Holdings, Tractor Supply, Weyerhaeuser, Jacobs Solutions, and Nordson all outperformed their respective peer groups.