The small-cap index Russell 2000 (.RUT) ticked higher as investors kept moving away from megagap and growth stocks after their strong gains. Recently, U.S. shares have been boosted by a megacap stocks rally and a stronger-than-expected earnings season, with the S&P 500 (.SPX) up almost 20% from its October 2022 lows. Wells Fargo raised the price target on Netflix (NFLX.O) shares to $500 from $400, the highest on Wall Street, according to Refinitiv. Energy index (.SPNY) rose after oil prices edged higher, while the KBW Regional Banking Index (.KRX) hit a two-month high. According to preliminary data, the S&P 500 (.SPX) lost 16.31 points, or 0.38%, to end at 4,267.54 points, while the Nasdaq Composite (.IXIC) lost 170.59 points, or 1.28%, to 13,105.83.

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Persons: Wells, Russell, we've, Paul Baiocchi, jitters, Wells Fargo, Campbell, Shubham Batra, Shristi, Vinay Dwivedi, Richard Chang, David Gregorio Our Organizations: Netflix, Nasdaq, SS, C ALPS Advisors, Treasury, Bank of Canada, Federal, Dow Jones, Yext, U.S . Securities, Exchange Commission, SEC, Invest, Thomson Locations: megagap, U.S, KBW, York, Coinbase, Bengaluru