The S&P 500 closed lower on Wednesday amid concerns over progress in US debt ceiling negotiations.

The Federal Reserve also released minutes from the most recent Fed meeting on Wednesday.

Citigroup, Inc C Shares fell 3% on Wednesday after plans for an IPO were announced (initial public offering) of its retail, small business and middle market banking operations in Mexico.

NVIDIA Corporation NVDA Shares rose about 25% in after-hours trading on Wednesday after the company reported better-than-expected first-quarter results and issued strong guidance.

Most sectors in the S&P 500 ended negatively, with real estate and financials posting the largest losses on Wednesday. However, energy stocks bucked the broader market trend and ended higher during the session.

The Nasdaq 100 fell 0.50% on Wednesday to close at 13,604.48 amid losses in shares of NVIDIA Corporation NVDA And Tesla Inc TSLA.

The S&P 500 fell 0.73% while the Dow Jones fell 0.77% to 32,799.92 in the previous session.

The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 8.1% to close at 20.03 on Wednesday, its highest level in three weeks.

What is the CBOE Volatility Index?

The CBOE Volatility Index, popularly known as the VIX, is a measure of stock market volatility expectations based on call and put values ​​for the S&P 500 index options.

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