Stocks Drop as Tariff Concerns Weigh on Markets; Adobe, UiPath, Sunnova Plunge and more
U.S. equities fell midday on Wednesday, pressured by renewed concerns over tariffs. The Nasdaq dropped more than 1%, while the Dow Jones Industrial Average and the S&P 500 also moved lower.Adobe Shares Plummet on AI Monetization Concerns
Adobe (ADBE) was the worst-performing stock in the S&P 500 after the software giant issued guidance that raised investor concerns about how it plans to monetize its artificial intelligence (AI) offerings. Shares of Adobe tumbled sharply following the announcement.
UiPath Hits Record Low on Disappointing Outlook
Automation software maker UiPath (PATH) saw its stock sink to an all-time low after providing weak guidance. The company warned that federal spending cuts and global macroeconomic challenges would negatively impact its results.Sunnova Considers Bankruptcy, Shares Plunge
Sunnova Energy International (NOVA) shares also hit a record low after reports surfaced that the solar energy company is exploring bankruptcy as it attempts to restructure its debt.Intel Gains on Leadership Change
Intel (INTC) shares jumped after the semiconductor giant named Lip-Bu Tan, former CEO of Cadence Design Systems (CDNS), as its new chief executive officer.
Gold Surges to Record High, Boosting Mining Stocks
Gold prices soared to an all-time high, driving gains in mining stocks. Newmont (NEM) and other gold producers saw their shares climb as investors turned to the precious metal as a safe-haven asset amid market uncertainty.Dollar General Rallies on Strong Revenue
Shares of Dollar General (DG) advanced after the discount retailer posted better-than-expected revenue, fueled by increased sales of food and consumable products.
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