Cognizant Technology Solutions (CTSH) shares were down nearly 4% in Wednesday afternoon trading after Berenberg downgraded the stock to hold from buy and reduced its price target to $59 from $81.
Intraday trading volume stood at over 5.9 million shares against a daily average of about 7.3 million.
Price: $49.08, Change: $-1.97, Percent Change: -3.87%
Major digital assets were weaker Tuesday, with Bitcoin (BTC-USD) falling below the $66,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell almost 2.3% in the past 24 hours. The Nasdaq 100 fell 1.7%, the S&P 500 declined 0.5%, and the Dow Jones Industrial Average increased 0.7%.Bitcoin fell 1.5% to $65,538, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume dropped 30.9% to $26.1 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, dropped 1.6% to $1,794.XRP (XRP-USD) shed 4.5%, BNB (BNB-USD) lost 2.2%, and Solana (SOL-USD) decreased 1.6%. Dogecoin (DOGE-USD) fell 1.7%, while Cardano (ADA-USD) declined 6.6%.The US 10-year Treasury yield stood at 4.426% at 3 p.m. ET Tuesday, down from 4.469% Monday, while the five-year yield fell to 4.149% from 4.186%.The total market value of the cryptocurrency industry fell 1.5% in the past 24 hours to $2.25 trillion, with trading volume declining 20.6% to $78.55 billion.Price: $65544.28, Change: $-743.20, Percent Change: -1.12%
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Consumer stocks edged up late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each fractionally higher.In corporate news, Rivian Automotive (RIVN) laid off hundreds of employees, or under 2% of its workforce, Tuesday, the Wall Street Journal reported, citing a company spokesperson. The layoffs affected workers in the electric-vehicle maker's service and customer organization, the report said. Rivian shares fell 4.3%.