Breaking the nine-day winning streak, profit-takers and sellers took control of Wednesday’s session in the S&P 500 index futures as reports of US strikes in Iran circulated.

Overnight, bears seized the upper hand almost immediately, setting the high at 7628.50. Bulls bought a dip, forming support at the psychological 7600 level, but a slow leak resumed and continued through the night. The regular session opened near the overnight low, with sellers taking charge right away with a selloff. Bulls then mounted a rebound, but support at the 7600 level had flipped to resistance, and bids gave way once more. 

The decline continued until after lunch, when buy-the-dippers stepped in to pare some losses. However, sellers returned once again in the final minutes. The session concluded near the intraday low at 7571.75, losing 52 handles. After hours selling on fresh earnings reactions pushed the low even further to 7541.75.

Tomorrow, market participants can look forward to Q1 US Productivity data along with more earnings reports before the open and a heavier slate after the close.

Among the top components of the index, Meta Platforms Inc (NASDAQ: META) emerged as the biggest gainer. The tech conglomerate advanced by $25.35 or 4.24% to close at $622.98 for the day. 

That performance was a fortunate four percent better than the cash index’s decline of 0.70%.

Conversely, the biggest loser ended up being NVIDIA Corp (NASDAQ: NVDA). For the day, the chip designer declined by $8.07 or 3.62% to close at $214.75.