U.S. stocks traded lower this morning, with the Dow Jones index dipping more than 250 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.63% to 42,654.26 while the NASDAQ fell 0.47% to 18,486.46. The S&P 500 also fell, dropping, 0.33% to 5,831.63.

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Leading and Lagging Sectors

Utilities shares rose by 0.5% on Wednesday.

In trading on Wednesday, consumer discretionary shares fell by 0.9%.

Top Headline

Boeing Co (NYSE:BA) reported a loss for the third quarter on Wednesday.

The company posted a 1% year-over-year revenue decline to $17.854 billion in the third quarter of 2024, missing the consensus of $17.931 billion. Adjusted loss per share expanded to $10.44 from $3.62 in the same quarter of 2023, missing the consensus of $10.34.

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Equities Trading DOWN

Commodities

In commodity news, oil traded down 1.3% to $70.80 while gold traded down 0.5% at $2,747.40.

Silver traded down 2.5% to $34.180 on Wednesday, while copper fell 1.3% to $4.3240.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.2%, Germany's DAX fell 0.2% and France's CAC 40 fell 0.5%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 fell 0.5%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.80%, Hong Kong's Hang Seng Index gaining 1.27%, China's Shanghai Composite Index gaining 0.52% and India's BSE Sensex falling 0.17%.

Singapore's annual inflation rate eased to 2.0% in September versus 2.2% in the previous month.

Economics

U.S. mortgage applications declined by 6.7% from the previous week during the third week of October, following a 17% dip in the earlier period.

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