Microsoft Weighs on Markets, Nasdaq Lower, Dow and S&P Unchanged

All the major benchmarks ended in the red Wednesday. After an initial jolt from the Fed minutes and trading in positive terrain, the Dow Jones Industrial barely moved and the S&P 500 closed just slightly lower. The Nasdaq however dropped about half a percent. Telecoms Verizon (VZ) and AT&T (T) were among the blue chips' biggest decliners. Microsoft (MSFT) was another drag for the Dow components. Shares are down more than 1%, also weighing on both the S&P 500 and the Nasdaq. Tech giant Yahoo (YHOO) pushed the Nasdaq lower. Along with Qualcomm (QCOM), both were down more than 2%. Shares of Qualcomm dropped after the company gave a more cautious five-year outlook. JetBlue (JBLU) continued to soar after saying it plans to cut legroom and charge baggage fee. The airline is hoping the cost savings will increase profits by $400 million a year.