The Dow Jones Industrial Average was the lone major index to close Wednesday's session in the green Wednesday as the other two indices spent the entire day in the red.
The Dow rose 0.09%, or 23 points to 25,975, while the S&P 500 fell 0.28%, or 8 points to 2,889, and the Nasdaq fell 1.19%, or 96 points to 7,995.
State Farm Settles Racketeering Charges for $250 Million
State Farm will settle civil charges that it tried to rig the Illinois justice system, following a $1 billion judgment against the company 19 years ago, for $250 million.
Customers involved in the civil trial were seeking as much as $8.5 billion in damages after accusing the company of attempting to recruit a judge friendly to its case for the Illinois Supreme Court by secretly funding Judge Lloyd Karmeier's 2004 election campaign.
Karmeier's judicial race against Democratic opponent Gordon Maag was the most expensive judicial race in American history at the time.
Bitcoin Tanks After Goldman Drops Crypto Trading Desk Plans
The price of cryptocurrency bitcoin is down 4.5% to $7,027.59 on Wednesday on news that Goldman Sachs has delayed plans to create a crypto trading desk. Fellow digital currency etherum dropped double digits on the news.
The move comes following a Business Insider report that Goldman Sachs is moving its crypto trading desk lower on its priority list. The bank is focused on other digital-coin services, such as a custody product, according to the report.
Bitcoin prices have been hovering around $7,000 for the past four weeks.
Toyota Recalls 1 Million Hybrids Due to Risk of Catching Fire
Toyota (TM) announced that it is recalling more than 1 million hybrid vehicles, including its Prius, Prius plug-in hybrid and C-HR SUV models due to repairs needed in the vehicles' electrical systems.
The cars have the potential to catch fire, according to Toyota.
The recall covers vehicles produced between June 2015 and May 2018 with fixes being offered to vehicle owners free of charge. More than half of the affected vehicles are in Japan with about 200,000 residing in the U.S.
U.S. futures are falling across the board Wednesday as emerging market currencies fell against the dollar Wednesday due to rising U.S. interest rates and trade war rhetoric that has ratcheted up in recent months.
Dow futures are down 0.29%, indicating an open 75 points lower, while S&P futures fell 0.22%, indicating damages 6 points lower, and Nasdaq futures were down 0.29%, indicating an open 22 points lower.
World markets were also falling Wednesday with the Hang Seng dropping 2.56$ and the Shanghai Composite Declining 1.68%.
In Europe, the CAC 40 fell 0.78%, the DAX declined 0.52%, and the FTSE 100 dropped 0.39% with about four hours left in trading across the Atlantic.