US Stocks End Lower Amid Tech Drop, Bank Concerns

US stocks finished lower on Wednesday, led by a drop in the Nasdaq, with tech shares declining and bank stocks extending recent losses following mixed quarterly results. The S&P 500 bank index dropped, with Wells Fargo down 4.6% after missing profit expectations. Citigroup and Bank of America shares also fell, despite beating estimates. Investors rotated out of expensive megacaps and into value and defensive names. The Dow Jones fell 42.36 points, or 0.09%, to 49,149.63, while the Nasdaq Composite lost 238.12 points, or 1.00%, to 23,471.75.