U.S. equities trading was mixed on Wednesday, with major indices showing limited movement by midday as investors remained cautious amid renewed concerns over fiscal policy, which pressured Treasury bonds and the dollar.
The S&P 500 hovered near 5,930, little changed on the day, while the Dow Jones Industrial Average slipped 0.7% amid weakness in blue-chip stocks. In contrast, the Nasdaq 100 advanced 0.5%, led by a 4.6% rally in Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), which extended gains following its annual I/O developer conference.
Google unveiled a series of AI initiatives, highlighting that its Gemini assistant now boasts over 400 million monthly active users and delivers AI Overviews to more than 1.5 billion people. The company also touted Gemini 2.5 Pro’s performance leadership in industry benchmarks.
Bond markets faced renewed selling pressure, with the 30-year Treasury yield surging to 5.02% — the highest …