S&P 500, Nasdaq close lower as traders cash in on latest megacap rally

The Dow rose 91.74 points, or 0.27%, to 33,665.02, the S&P 500 lost 16.33 points, or 0.38%, to 4,267.52 and the Nasdaq dropped 171.52 points, or 1.29%, to 13,104.90. — Reuters

BENGALURU: The S&P 500 and Nasdaq closed in negative territory on Wednesday as investors took profits after a months-long megacap stocks run and ahead of key economic and policy events next week.

The small-cap index Russell 2000 climbed 1.78% as investors kept moving away from megagap and growth stocks after their strong gains.