US stock markets posted significant losses on Wednesday, driven by a sharp spike in oil prices and heightened caution ahead of the Federal Reserve's concluding interest rate decision for the year.
The Dow Jones Industrial Average fell 1.52%, shedding approximately 800 points, while the S&P 500 declined 0.80% and the Nasdaq Composite dropped 1%.
The Dow opened Tuesday at 52,411 points, with tech giants like Apple leading the decline.
The sell-off marks a continuation of the downward pressure that began on Tuesday, when broad-based selling in the technology sector pulled major indices into negative territory.
The Dow opened Tuesday at 52,411 points, with tech giants like Apple leading the decline.
Wednesday's deeper losses suggest that investor anxiety over the Fed's policy path is intensifying as the session progressed.
Rising crude oil prices added to the headwinds, raising concerns about inflationary pressures and potential margin compression for energy-intensive sectors.