S&P 500 Index is looking to close sharply lower. Nike Inc (NKE: NYSE) shares post strong gains on upbeat earnings figures. Lithium producers’ stocks are suffering heavy losses on Wednesday. The S&P 500 Index (SPX) opened modestly higher on Wednesday but failed to preserve its momentum and staged a sharp U-turn in the second half of the session. As of writing, the SPX was down 1.65% on a daily basis at 3,260. All 11 major sectors of the S&P 500 trade in the negative territory on Wednesday with the Energy Index as the worst-performer with a daily loss of 3.4%. S&P 500 top movers After the closing bell on Tuesday, Nike Inc (NKE: NYSE) reported quarterly adjusted earnings of 95 cents per share for the quarter ended in August and beat the analysts’ mean expectation for earnings of 47 cents per share. Additionally, the company reported that the revenue fell by 0.6% to $10.59 billion from a year ago, which was much higher than the analysts’ estimate of $9.14 billion. On the back of the upbeat earnings figures, at least 15 brokerage firms hiked their price targets and NKE surged to a fresh record high of $130.38. As of writing, NKE was the biggest percentage gainer of the day, up 8.33% at $126.60. On the other hand, pressured by Tesla Inc’s plans to reduce electric battery costs dramatically, shares of lithium producers are registering heavy losses on Wednesday. At the moment, Lithium Americas Corp (NYSE: LAC), Albemarle Corp (ALB: NYSE) and Livent Corp (LTHM: NYSE) shares are down 19.9%, 14.7% and 7.5%, respectively. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD Price Analysis: Will the US dollar now give back some ground to the dollar bloc? FX Street 2 years S&P 500 Index is looking to close sharply lower. Nike Inc (NKE: NYSE) shares post strong gains on upbeat earnings figures. Lithium producers' stocks are suffering heavy losses on Wednesday. The S&P 500 Index (SPX) opened modestly higher on Wednesday but failed to preserve its momentum and staged a sharp U-turn in the second half of the session. As of writing, the SPX was down 1.65% on a daily basis at 3,260. All 11 major sectors of the S&P 500 trade in the negative territory on Wednesday with the Energy Index as the worst-performer with a daily loss of 3.4%. … Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.