Dow Drops 1.21%, Hits New Three-Month Low Amid Sector-Wide Declines

U.S. equities closed lower on Wednesday, weighed down by losses in key sectors.

The Dow Jones Industrial Average (DJIA) fell 1.21% to hit a new three-month low, while the S&P 500 declined 0.44%, and the NASDAQ Composite dropped just 0.01%

In the DJIA, Honeywell International Inc led the gainers with a 2.07% increase, followed by NVIDIA Corporation's 0.82% rise, and Merck & Company Inc's 0.78% gain.

However, International Business Machines (IBM) was the biggest loser, plummeting 4.38%, while Goldman Sachs Group Inc declined 3.96%, and American Express Company shed 3.70%