3 Hours Ago
Dow drops nearly 200 points, Nasdaq slumps more than 1%
Stocks finished lower on Wednesday, and the Nasdaq Composite fell for a third straight day.
The Dow Jones Industrial Average sank 198.78 points, or 0.57%, to end at 34,443.19. The S&P 500 dropped 0.7% to finish at 4,465.48, while the Nasdaq Composite shed 1.06% to close at 13,872.47.
— Samantha Subin
3 Hours Ago
Ken Griffin’s Citadel posted a strong August as broader market tumbled
August was a painful month for the broad market, but Ken Griffin’s Citadel hedge fund came through with gains.
Citadel’s multi-strategy fund posted a more than 2% gain last month, and it’s up 10.8% in 2023 through August, a person familiar told CNBC. The long-short equities fund also jumped more than 2% in August, and advanced 9.5% this year, the source said.
The S&P 500, meanwhile, was off about 1.8% in August.
Steve Cohen’s Point72 is also up nearly 7% in 2023, while D.E. Shaw’s composite fund is up about the same amount this year through Aug. 25, sources familiar told CNBC. Citadel, Point72 and D.E. Shaw declined to comment
— Leslie Picker, Darla Mercado
3 Hours Ago
Apple shares head for worst day in more than a month
Apple shares are poised to post their worst day in more than a month.
The big-technology stock slid 4.2% in Wednesday’s session. If that holds through close, it will mark the stock’s worst performance since Aug. 4, when shares dropped 4.8%.
