Wall Street Today: DJIA, S&P 500 and Nasdaq Comp Sink on ORCL, AVGO, NVDA and TSLA Losses

The $Nasdaq Composite Index (.IXIC.US)$ shed 418.14 points (1.9%) to a 22,693.32 close, while the $S&P 500 Index (.SPX.US)$ gave up 78.83 ticks (1.2%) to 6,721.43 and the $Dow Jones Industrial Average (.DJI.US)$ lost 228.29 points (0.5%) to 47,885.97.

The key indexes fell in part on losses for Big Techs like $Oracle (ORCL.US)$, which fell 5.4%. Oracle sank after the Financial Times reported that $Blue Owl Capital (OWL.US)$ had pulled out of financing one of the firm's data centers on concerns over ORCL's debt levels over AI-related build-outs.

That helped drive other AI-themed techs lower, including $CoreWeave (CRWV.US)$ (7.1% softer), $Advanced Micro Devices (AMD.US)$ (5.3% weaker), $Broadcom (AVGO.US)$ (off 4.5%) and $NVIDIA (NVDA.US)$ (down 3.8%).

Big Tech darling $Tesla (TSLA.US)$ likewise fell 4.6% after hitting a record close on Tuesday and an all-time intraday high earlier Wednesday before turning negative.

Other Big Techs to lose altitude included $Ondas (ONDS.US)$ (9% weaker), $NEBIUS (NBIS.US)$ (off 6.8%), $Super Micro Computer (SMCI.US)$ (5.8% lower), $Palantir (PLTR.US)$ (down 5.6%), $Taiwan Semiconductor (TSM.US)$ (off 3.5%) and $Intel (INTC.US)$ (which shed 3.4%).

Meanwhile, $Caterpillar (CAT.US)$ – a major non-tech Dow-30 component – lost 4.6% as the stock continued to slide after hitting an all-time intraday high last Friday.

$Bitcoin (BTC.CC)$ shed 1.9% to $85,951 as of shortly before 4:15 p.m. New York time, while $Ethereum (ETH.CC)$ lost 4.3% to $2,826.90, $Solana (SOL.CC)$ gave up 4% to $122.96 and $Ripple (XRP.CC)$ eased 2.7% to $1.88.

But on a positive note, $Medline (MDLN.US)$ successfully staged 2025's largest initial public offering Wednesday. The medical-supply maker's shares rose 41.4%, taking the firm's market capitalization to $53.9 billion.

$Tesla (TSLA.US)$ and $NVIDIA (NVDA.US)$ led the way downward with their aforementioned declines of 4.6% and 3.8%, respectively. Meanwhile, $Alphabet-A (GOOGL.US)$ lost 3.2%, $Meta Platforms (META.US)$ shed 1.2%, $Apple (AAPL.US)$ fell 1%, $Amazon (AMZN.US)$ gave up 0.6% and $Microsoft (MSFT.US)$ inched down 0.1%.

-- $Rezolve AI (RZLV.US)$, off 19.2%. The AI-powered commerce-solutions firm fell on a combination of AI's Wednesday weakness and a pullback from Tuesday's 28% rally.

-- Multiple crypto-related names, which sank on cryptocurrencies' latest losses. Decliners included $Applied Digital (APLD.US)$ (off 9.2%), $IREN Ltd (IREN.US)$ (7.7% weaker), $Bitmine Immersion Technologies (BMNR.US)$ (6.6% lower), $Circle (CRCL.US)$ (which shed 4.6%), $Strategy (MSTR.US)$ (down 4.3%), $Coinbase (COIN.US)$ (3.3% softer) and $Robinhood (HOOD.US)$ (which lost 3%).

-- $Recursion Pharmaceuticals (RXRX.US)$, up 11.4%. The biotech firm rebounded after sliding 18.7% between its $5.09 high on Dec. 8 and its $4.14 low on Thursday. RXRX rallied on Dec. 8 on word of a positive Phase 1b/2 trial of its experimental drug to treat polyp formation.

-- $Hut 8 (HUT.US)$, 9% better. The crypto-related firm beat its sector's general downturn and gained ground after signing a 15-year, $7 billion lease with AI infrastructure firm Fluidstack for 245 megawatts of IT capacity in Louisiana.