Wednesday’s S&P 500 index futures session extended the pullback from fresh all-time highs, with previous support turning into resistance as bears maintained control.

Overnight trading saw bulls hold a slight edge, keeping the index futures in the green for most of the premarket. The regular session opened with a very brief push to the day’s high of 6728.75, but bears and profit-takers quickly took over. An initial sell-off found temporary support above Tuesday’s low, but momentum shifted after reports confirmed 15% US tariffs on EU autos and auto parts, retroactive to August 1. That seemingly helped sellers drive below Tuesday’s low and the psychological 6700 level, bottoming at 6678, forming a double-bottom with Friday’s low.

Dip-buyers fought back in the afternoon, but the former 6700 support area now acted as resistance, trapping the index in a choppy range between the low and this new ceiling. Bulls managed to trim losses in the final 15 minutes, closing the session below the day’s midpoint at 6692.25, down 22.75 handles.

Thursday brings a busy day of fedspeak from multiple Fed presidents, alongside macro data at 8:30 AM ET, including August’s advanced inventories and durable goods orders.

Among top index components, Tesla Inc (NASDAQ: TSLA) led as the biggest gainer, surging $16.94 or 3.98% to close at $442.79, helped by strong China delivery reports and analyst price target upgrades

That outperformed the cash index’s 0.32% decline by a fortunate four percent. 

Alphabet Inc (NASDAQ: GOOGL) was the biggest loser among top components, falling $4.52 or 1.80% to close at $247.14.