The Cboe Skew Index, which measures options traders’ demand for tail-risk hedges, has risen sharply since Nov. 12, when it touched a post-election low. The index closed above 167 on Monday, its highest reading in more than two months, according to LSEG data.

Dell shares dropped 12%, while mega-cap giants Nvidia, Meta, and Microsoft all ended lower. The stock market will be closed Thursday for Thanksgiving.

Stocks wavered in afternoon trading on Wednesday, as losses for several Big Tech companies offset gains elsewhere in the market. The S&P 500 fell 0.4% in afternoon trading, even though more stocks were rising than falling in the index.

U.S. stocks rose to records after Donald Trump's latest talk about tariffs created only some ripples on Wall Street

U.S. stocks remain near record highs despite Trump's tariff talk targeting Mexico, Canada, and China. Investors are cautiously optimistic, weighing potential economic impacts and policy outcomes.

U.S. stocks are rising toward records Tuesday after Donald Trump’slatest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect.