Stocks accelerated losses into the close, erasing earlier gains and ending an advance that began on Tuesday. The S&P 500, Dow and Nasdaq each had their worst day in two weeks.
The S&P 500 sank more than 2%, led by a drop in the energy and information technology sectors, to close at its lowest level since the end of July. The Nasdaq’s more than 3% decline brought the index down also to near a two-month low.
The Dow fell to its lowest close since the beginning of August, even as shares of component stock Nike (NKE) climbed to a record high after reporting quarterly results that far surpassed consensus expectations. However, the increase was offset in the Dow by declines in tech names including Salesforce and Apple.
Shares of Stitch Fix (SFIX) sank more than 15%, after the digital personal styling service posted a wider than expected quarterly