Wall Street Today | Trump's DWAC to miss its first product deadline

Australian equities dropped and futures for Japan and Hong Kong pointed lower, while U.S. contracts edged up. The $S&P 500 Index(.SPX.US)$ posted its worst two-day selloff since October 2020 after erasing a near-2% rally to slide into the close. The technology-heavy $NASDAQ 100 Index(.NDX.US)$ underperformed.

Qualcomm jumps into hot gaming market with new chip for portable game consoles

$Qualcomm(QCOM.US)$ introduced a new microchip on Wednesday for handheld gaming consoles. The chip, called Snapdragon G3x, will debut in a portable device made by Razer with a 6.65-inch screen and a built-in controller that resembles a Nintendo Switch.

Qualcomm is the biggest supplier of chips at the heart of Android phones made by companies such as Samsung and Xiaomi, and Wednesday's announcement signals that it wants to provide chips for gaming devices as well.

Trump SPAC social media company appears to miss its first product deadline

Former President Donald Trump's new social media company appears to have missed its own November deadline to launch an invitation-only beta version of "Truth Social," its purported alternative to Twitter. The share price of $Digital World Acquisition Corp(DWAC.US)$ -- the SPAC company that plans to merge with Trump's social media firm -- has dropped dramatically since it exploded when the deal was announced in late October.

The November release date was the first clear test of whether the company could deliver on its promises to investors who bought stock in DWAC.

$Tesla(TSLA.US)$'s Model Y and Model 3 were the most sold new cars in Norway last month, with the Volkswagen ID.4 rounding out the top three, according to the Information Council for Road Traffic.

$Block(SQ.US)$ CEO Jack Dorsey stepped down from his role as $Twitter (Delisted)(TWTR.US)$ CEO on Monday.

$Target(TGT.US)$, $Walmart(WMT.US)$ and other retailers hope to keep holiday sales going strong in December, despite a wave of early holiday shopping, scarcer deals and new concerns over the omicron variant. The total number of shoppers and average spending dropped during the extended Thanksgiving weekend compared with each of the past two years, according to the National Retail Federation.

CNBC's Jim Cramer said Wednesday he's holding $NVIDIA(NVDA.US)$, even though he recently booked some profits in two other big charitable trust winners. Cramer revealed Wednesday morning his trust sold some $Advanced Micro Devices(AMD.US)$ shares. In late October, the trust sold some Ford.