Key Points
Wall Street stocks slumped to start Wednesday with all three major US indices in the red and key names such as Facebook parent Meta Platforms and Nvidia falling..
Around 10 minutes into trading, the Dow Jones Industrial Average slid 0.4 percent to 37,571.60, while the broad-based S&P 500 Index lost 0.5 percent to 4,718.88..
The tech-heavy Nasdaq Composite Index retreated 0.6 percent to 14,670.94...
The retreat comes after a strong 2023, which saw optimism over artificial intelligence bringing outsize gains for the "Magnificent Seven" stocks: Amazon, Apple, Google parent Alphabet, Meta Platforms, Microsoft, Nvidia and Tesla...
But several of these names showed weakness to start the second day of the new year, with Meta shares slipping 0.4 percent, Nvidia falling 0.7 percent and Alphabet losing 0.3 percent early on Wednesday..
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