U.S. stocks embarked on a tumultuous journey midway through trading, with the Dow Jones soaring over 200 points on Wednesday.

The Dow surged 0.56% to 39,502.25, while the NASDAQ faltered by 0.08% to 16,302.03. The S&P 500 managed to clinch a 0.27% gain at 5,217.52.

Sector Swings

Real estate shares catapulted by 1.8% on Wednesday, dishing out gains to investors.

However, the trading landscape felt a pinch in the information technology sector, which witnessed a 0.4% dip.

Crude Oil Chaos

Crude oil inventories in the U.S. bucked expectations as they surged by 3.165 million barrels in the week ended March 22, a stark contrast to the anticipated 1.275 million barrel decline, divulged by the Energy Information Administration.

Stocks on the Move

Lixte Biotechnology Holdings, Inc. LIXT shares soared by 49% to $3.38 following the publication of promising pre-clinical data on its lead clinical compound, LB-100.

On the flip side, Gamida Cell Ltd. GMDA shares nosedived by 84% to $0.0539 post-reporting of fourth-quarter results and the initiation of a restructuring process.

PaySign, Inc. PAYS shares surged by 20% to $4.0450 after unveiling better-than-expected fourth-quarter results.

Meanwhile, Direct Digital Holdings, Inc. DRCT shares stumbled by 45% to $14.41 due to disappointing fourth-quarter financial figures.

Global Market Overview

In the eurozone, shares saw a mixed bag with STOXX 600 rising by 0.04%, London’s FTSE 100 dipping 0.22%, Spain’s IBEX 35 Index rising 0.91%, Germany’s DAX climbing 0.50%, French CAC 40 leaping by 0.38%, and Italy’s FTSE MIB Index surging 0.16% in a display of market seesaw.

Economic indicators in the eurozone pointed to a mixed sentiment, with various nations reporting contrasting figures ranging from current account surplus to consumer sentiment levels.

Market Diversification in Asia

Asian markets also put on a diverse show on Wednesday, with Japan’s Nikkei 225 rising by 0.90%, Hong Kong’s Hang Seng Index falling by 1.36%, China’s Shanghai Composite Index dipping 1.26%, and India’s S&P BSE Sensex climbing by 0.73% in a display of regional variability.

Chinese industrial profits surged by 10.2% year-over-year to CNY 914.06 billion in the initial two months of the year, bringing a storm of profitability amidst market fluctuations.

Economic Tides

U.S. mortgage applications took a minor hit, declining by 0.7% for the week ending March 22, 2024, as the market navigated through choppy waters.

The volatile crude oil market continued its rollercoaster ride, recording an unexpected surge in inventories, throwing some investors off balance.