NEW YORK — (AP) — U.S. stocks are subdued Wednesday after a morning rally gave way to modest declines, but Wall Street is still holding relatively steady compared with its manic swings over the last week.
The S&P 500 was 0.4% lower in afternoon trading after an earlier jump of 1.7% evaporated. The Dow Jones Industrial Average was down 179 points, or 0.5%, as of 2:30 p.m. Eastern time, and the Nasdaq composite was 0.6% lower.
Stocks swung lower as Nvidia, one of Wall Street’s most influential companies, went from a morning gain of 4.4% and pushing strongly upward on the S&P 500 to a loss of 3.8% that made it the index’s heaviest weight. Nvidia and other Big Tech stocks have been largely struggling the last month on worries their prices shot too high amid Wall Street’s frenzy around artificial-intelligence technology.
A profit report from Super Micro Computer, whose stock more than quadrupled in the first …