US stocks extended losses during trade, with the Nasdaq Composite falling more than 200 points on Wednesday.
After Wednesday’s market open, the Dow fell 1.26% to 29,934.96, while the NASDAQ fell 2.13% to 10,937.85. The S&P 500 was also down 1.59% to 3,730.73.
Leading and lagging sectors
Energy stocks rose 1.2% on Wednesday. lead the sector was power out NineEnergy Service, Inc. NINE and Alpine Summit Energy Partners, Inc. ALPS.
In Wednesday trading, utility shares fell 2.2%.
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US crude inventories fell 1.356 million barrels in the week ended September 30 versus market estimates of a 2.052 million barrel increase, the Energy Information Administration said.
Stock trading UP
- Nauticus Robotics, Inc. PUTTY Shares rose 72% to $5.55 after the company announced it had won a second multi-million dollar contract from the US Defense Innovation Unit to develop an amphibious unmanned aerial vehicle system.
- shares of Neighborhood Motor Corp. VEV got a boost, rising 8% to $1.1250 after the company announced it had started deliveries of Canada’s first Class 3 electric truck.
- Tupperware Brands Corporation SHARPEN Shares were also higher, gaining 44% to $7.84. TOP Ships recently reported a 412% increase in net profit for the six months ended June 30th.
Stocks are trading down
- Tupperware Brands Corporation TUPP Shares fell 9% to $6.56. Citigroup kept Tupperware Brands at Neutral and cut its price target to $8 from $11.5.
- shares of SMART Global Holdings, Inc. SGH declined 8% to $15.69. SMART Global reported better-than-expected earnings for the fourth quarter, while revenue missed estimates. The company also provided a weak profit guidance for the current quarter.
- Sotera healthcare company SHC fell 11% to $7.18 after Citigroup downgraded the stock to Neutral from Buy.