Wall Street stocks slipped on Wednesday, wiping out early session gains, as concerns over stretched valuations continued to dampen investor sentiment.
The sell-off left European shares largely flat, underscoring a cautious mood across global equity markets.
The US dollar climbed to a one-year high, capitalizing on the risk-off environment.
The greenback extended its recent rally, reinforcing its status as a safe-haven asset amid the equity retreat.
This move follows a broad-based sell-off in technology stocks on Tuesday, which accelerated the rotation out of growth equities and into cash.
The US dollar index reached 101.44, marking its highest level in 13 months and the strongest reading since May 13, 2025.