Markets Ease on Mixed Bank Results and Tech Selloff

Stocks fell on Wednesday as a broad tech selloff and mixed bank results weighed on sentiment: Bank of America dropped 3.7% after beating earnings but missing revenue expectations, Wells Fargo fell 4.6% after missing estimates, and Citi slid 3.3%. In tech, Rivian tumbled 7.2% on a UBS downgrade, AppLovin fell 7.6%, and Nvidia slipped 1.4% as China export prospects for its H200 AI chips remain uncertain; Tesla declined 1.8% after Musk said some driver-assistance features would move to a subscription model. Intel rose 3.1% on cloud demand, Netflix slid about 2% amid talks of an all-cash Warner Bros. Discovery bid, and Trip.com Group plunged 17% on a Chinese antitrust probe. Fortinet and Palo Alto Networks softened, Honeywell edged up 1.3% as Quantinuum announced an IPO plan, while Biogen and Glaukos also declined.