US Markets Close Lower: DJIA Falls 228 Points; Nasdaq Declines 1.8% with Tesla and Oracle Dropping 5%
US Stock Market Performance: The US stock market closed lower on Wednesday, with the DJIA down 228 points (0.5%), the S&P 500 down 78 points (1.2%), and the Nasdaq down 418 points (1.8%), marking a four-day decline for both the DJIA and S&P 500.
AI Stocks Sell-Off: AI-related stocks experienced significant sell-offs, particularly Oracle, which dropped 5.4% due to concerns over its Michigan data center plan, while Broadcom and NVIDIA also saw declines of 4.5% and 3.8%, respectively.
Jobless Claims and Payrolls Data: Continuing Jobless Claims for the week ending November 29 were reported at 1,838K, lower than expected, while Non-Farm Payrolls for November came in at 64K, exceeding the forecast of 50K.
Corporate Developments: Warner Bros. Discovery rejected a hostile takeover bid from Paramount, leading to a 5.4% drop in Paramount's stock and a 2.4% decline for Warner Bros., while Netflix saw a slight increase of 0.2%.
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