Well, we made it through the halfway point of the trading week. A cloud company debuted, Chinese stocks took a dive and General Mills (NYSE:GIS) had to answer reports that a consumer found shrimp tails in Cinnamon Toast Crunch. So what else did the stock market do today? Dive in with InvestorPlace below.
To start, the major indices did quite a bit of flip-flopping throughout the day. Although investors initially thought they were in the clear, stocks mostly ended Wednesday in the red. The S&P 500 shed 0.55%, while the Dow Jones Industrial Average shed 0.01%. The Nasdaq Composite also dipped, losing 2.01%.
Trade tensions have been lingering in the air, with a U.S.-China trade deal far from resolved. Talks last week between senior officials went south, and pundits are already warning that ongoing trade tensions serve as a stock market headwind.
Enter today an update from the U.S. Securities and Exchange Commission. Officials moved to adopt measures that would delist foreign companies from American stock exchanges if they do not comply with certain requirements. Investors should note that this news did not appear out of thin air. The SEC is simply addressing the Holding Foreign Companies Accountable Act, which President Donald Trump signed into law in December 2020. The legislation calls for the delisting of foreign companies that do not meet U.S. auditing standards, and also requires them to disclose government affiliations.
