U.S. stocks couldn't find their footing Wednesday, with technology stocks leading the retreat as investors rotated into energy names. The Nasdaq Composite bore the brunt of the selling pressure, dropping 1.18% to 22,838.26, while the Dow Jones Industrial Average showed more resilience, edging down just 0.13% to 48,050.79. The S&P 500 fell 0.73% to 6,750.66.
Markets Retreat as Tech Sells Off While Energy Sector Shines on Oil Gains

Get DBV Technologies Alerts
Weekly insights + SMS alerts
Sector Action: Energy Shines as Tech Stumbles
It was a tale of two markets Wednesday. Energy stocks jumped 1.3%, benefiting from a solid rally in crude oil prices. On the flip side, information technology stocks slumped 1.8%, making it the day's worst-performing sector and weighing heavily on the major indices.
General Mills Beats Expectations
General Mills Inc. (GIS) delivered a pleasant surprise, reporting second-quarter adjusted earnings of $1.10 per share, easily topping analyst estimates of $1.03. Revenue came in at $4.86 billion, down 7% year over year but still ahead of the Street's $4.781 billion forecast. The company maintained its fiscal 2026 outlook, signaling confidence in its trajectory.
Big Winners
Vyne Therapeutics Inc. (VYNE) rocketed 57% to $0.63 after announcing a definitive merger agreement with Yarrow Bioscience. The deal sparked enthusiasm among investors betting on synergies between the two companies.
Udemy Inc. (UDMY) surged 27% to $6.80 following news that Coursera signed an all-stock merger agreement with the online learning platform. The combination creates a powerhouse in the digital education space.
DBV Technologies SA - ADR (DBVT) climbed 28% to $23.09 after reporting that its Phase 3 VITESSE trial met its primary endpoint. The positive clinical data sent shares soaring as investors reassessed the company's pipeline potential.
Notable Decliners
Vistagen Therapeutics Inc. (VTGN) crashed 81% to $0.81 after revealing that its PALISADE-3 Phase 3 study failed to achieve its primary endpoint. The disappointing trial results essentially wiped out most of the company's market value in a single session.
Children's Place Inc. (PLCE) tumbled 39% to $4.46 after reporting third-quarter results that fell short of expectations. The struggling retailer continues to face headwinds in a challenging consumer environment.
Kyverna Therapeutics Inc. (KYTX) dropped 32% to $7.00 following the announcement of a $100 million public offering of common stock. The dilutive capital raise spooked existing shareholders.
Commodities Rally Across the Board
Commodity markets showed broad strength Wednesday. Crude oil climbed 1.7% to $56.21 per barrel, while gold advanced 0.9% to $4,371.80. Silver posted an impressive 4.6% gain to $66.205, and copper rose 1.4% to $5.4340.
Global Markets
European markets mostly finished in positive territory. The eurozone's STOXX 600 gained 0.39%, while London's FTSE 100 jumped 1.60%. Germany's DAX 40 edged up 0.04%, France's CAC 40 slipped 0.03%, and Spain's IBEX 35 rose 0.28%.
Asian markets closed mostly higher Wednesday. Japan's Nikkei gained 0.26%, Hong Kong's Hang Seng climbed 0.92%, and China's Shanghai Composite rose 1.19%. India's BSE Sensex was the outlier, falling 0.14%.
Economic Data
Mortgage applications declined 3.8% in the week ended December 12, reversing the previous period's 4.8% increase. The pullback suggests some cooling in housing market activity.
U.S. crude oil inventories fell by 1.274 million barrels in the week ended December 12, compared to a 1.812 million barrel decline the prior week. The drawdown slightly exceeded market expectations of a 1.1 million barrel drop, providing support for oil prices.
More News

Markets Hit New Highs Amid Ceasefire News, But Oil Jumps on Hormuz Tensions
Make This One Trade at 2:59 PM on Friday Afternoon, and you'll Thank Me Monday Morning

Operation 'Economic Fury': U.S. Unleashes Financial Firepower on Iran as Hegseth Delivers 'Choose Wisely' Ultimatum

Oil's At $90, Gas Is Over $4, But These 7 Energy Stocks Are Priced Like The Crisis Is Over

The Nasdaq 100's 12-Day Winning Streak Is a Rare Beast. Here's What History Says About What Comes Next.
Remember Tesla?

U.S. Bancorp Beats Earnings, But Investors Focus on Rising Credit Costs
Chip ETFs Are Back on Top, Powered by the AI Boom and a Nvidia-Led Rally
Get DBV Technologies Alerts
Real-time alerts on price moves, news, and trading opportunities.
Join 20,000+ investors. No spam, ever.
Featured Articles
View all news
Markets Hit New Highs Amid Ceasefire News, But Oil Jumps on Hormuz Tensions
Make This One Trade at 2:59 PM on Friday Afternoon, and you'll Thank Me Monday Morning (Ad)

Operation 'Economic Fury': U.S. Unleashes Financial Firepower on Iran as Hegseth Delivers 'Choose Wisely' Ultimatum

Oil's At $90, Gas Is Over $4, But These 7 Energy Stocks Are Priced Like The Crisis Is Over

The Nasdaq 100's 12-Day Winning Streak Is a Rare Beast. Here's What History Says About What Comes Next.
Trump's Secret Retirement Fund (Ad)





