US indices on Wall Street fell at the close, driven by declines in several sectors, despite the market's attempt to extend its gains in September, amid anticipation of economic data.
The S&P 500 fell 0.2%, snapping a four-day winning streak.
The Nasdaq Composite Index hovered near the flat line.
The Dow Jones Industrial Average fell 260 points, or 0.6%, led by a 4% drop in Amgen shares.
Both the Dow Jones and the S&P 500 hit new records in early trading.
US stocks opened flat on Wednesday as markets struggled to extend their gains in September as investors awaited fresh signs of the state of the economy and a potential interest rate cut, a week after the start of a monetary easing cycle in the United States.
All three averages are on track to end September in a positive range, although concerns about a slowing economy remain after the US Federal Reserve cut interest rates last week.
Now that the central bank has started cutting interest rates, the health of the economy is of greater interest to investors.
Investors are looking ahead to upcoming economic data on new home sales for August, due on Wednesday, and weekly jobless claims due on Thursday.
10:40:00 PM
Cipher Mining shares jump for second day, bringing two-day gain to 30%
Cipher Mining shares rose for a second day on Wednesday, a day after the bitcoin mining company completed its acquisition of the Barber Lake site in West Texas.
The stock had recently risen 14%. Earlier today it rose as much as 21.5%.
Macquarie Research initiated coverage of Cipher with an overweight rating on Tuesday. Northland Capital Markets initiated coverage of Cipher with an outperform rating on Wednesday.
9:40:00 PM
Amgen pulls Dow Jones lower
Shares of biotech company Amgen were trading down more than 4% on Thursday, making the stock a laggard in the Dow Jones Industrial Average. The 30-stock index was down about 0.6% in early afternoon trading.
9:10:00 PM
Trump Media stock jumps 11%
Trump Media shares rose more than 11% on Wednesday as the majority-owned company of Republican nominee Donald Trump looked to recoup losses from a punitive selloff that gained momentum after a cap on share sales expired.
7:50:00 PM
Nvidia's market cap exceeds $3 trillion
Chipmaker Nvidia rose 3% on Wednesday, pushing the artificial intelligence star to a valuation of more than $3 trillion. If shares close at that level, it would be the first time since Aug. 28 that the chipmaker’s value has ended the session above $3 trillion.
6:50:00 PM
Coinbase Down
Coinbase shares fell 1% in early morning trading, the morning after the stock rose for a sixth straight day.
The cryptocurrency exchange operator has risen more than 6% since last Tuesday in its longest rally since March of this year.
Chart analysts are warning that Coinbase could be entering a downtrend as its 50-day moving average has crossed below the 200-day.
6:00:00 PM
General Motors Ford Motor shares fall
Auto stocks fell after Morgan Stanley downgraded their shares due to rising Chinese competition and weak U.S. consumers.
Morgan Stanley analyst Adam Jonas downgraded Ford Motor Co. to equal weight from overweight, while General Motors Co. was downgraded to underweight from equal weight. Shares of GM and Ford fell about 3% and 2%, respectively.
Morgan Stanley's Adam Jonas pointed to deteriorating consumer credit in the U.S. as well as China's continued market share gains as headwinds for the automaker.
China produces 9mm more cars than it buys, upsetting the competitive balance in the West, Jonas said, adding that the capable Chinese butterfly has emerged and is flapping its wings.
Even if these units don't end up directly on U.S. shores, replacing the lost share and profits by major American players increases the pressure here at home, he said.
Wednesday's decline puts stocks on track for their biggest one-day loss since July 23, when they lost 6.4%.
5:00:00 PM
Demand for mortgage refinancing rises 20% in US
Demand for refinancing mortgages in the United States rose sharply last week, coinciding with an 8-week decline in interest rates on this type of debt.
According to a report issued Wednesday by the Mortgage Bankers Association, the number of applications submitted to refinance home mortgage loans increased by 20% during the past week.
The report indicated that the number of applications registered during the past week is 175% higher than the corresponding week last year.
