U.S. stocks closed with modest losses on Wednesday, well off their intraday highs, after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years.

Big tech shares gained in overnight trading. Nvidia and Tesla rose more than 1%.

Bitcoin was little changed after the Federal Reserve reduced borrowing rates for the first time since the Covid pandemic paralyzed the economy more than four years ago and helped cryptocurrencies break into the mainstream.

While crypto stocks gained in overnight trading. CleanSpark rose 6%; Marathon Digital and Riot Platforms rose 4%; Coinbase and MicroStrategy rose 3%.

Exicure said on Wednesday that Nasdaq Hearings Panel has granted an extension to continue the company’s listing subject to the company evidencing compliance with all applicable criteria by November 14, 2024.

Exicure shares soared 169% in overnight trading.

Progyny said it was recently notified by a significant client that the client has elected to exercise a 90-day option to terminate its services agreement with the company, effective as of January 1, 2025.

Progyny shares tumbled 24% in overnight trading.

Steelcase shares plunged 11% in overnight trading after the company posted lower-than-expected revenue in its fiscal second quarter and guided for a downbeat third quarter.

TOP10 gainers in overnight trading:

TOP10 decliners in overnight trading: