Nasdaq Crashes Amid Weaker Earnings Reports and Tech Stocks' Decline

The US stock market indexes, including the S&P 500, Dow Jones, and Nasdaq, ended lower on Wednesday despite a majority of stocks on Wall Street rising. The S&P 500 fell 0.5%, the Dow Jones dipped 0.1%, and the Nasdaq composite lost 1%. The market was pulled lower by weaker earnings reports from Wells Fargo, Bank of America, and Citigroup, as well as the biotechnology company Biogen. However, oil companies such as Exxon Mobil and Chevron rose as the price of oil increased.