Dow Jones Gains 720 Points as Oil Prices Slip; Nasdaq Falls

NEW YORK — The Dow Jones Industrial Index rose 720 points, or 1.4 percent, on Wednesday as a decline in global oil prices supported equities broadly. The S&P 500 slipped 0.1 percent during the session, while the Nasdaq Composite fell 0.7 percent. Brent crude oil dropped 2.9 percent to $94.96 per barrel. Broadcom shares fell 14.5 percent despite reporting earnings that exceeded analyst expectations. Other technology stocks also declined: Marvell Technology fell 4.6 percent, Micron Technology dropped 8.1 percent and CrowdStrike Holding fell 7.9 percent. The U.S. 10-year Treasury yield fell to 4.45 percent. Jobless claims showed a slight increase. European markets recorded modest gains, while Asian markets faced selling pressure. South Korea's Kospi fell 1.8 percent, Hong Kong's Hang Seng dropped 1.5 percent and Japan's Nikkei declined 1.4 percent.