Dell shares dropped 12%, while mega-cap giants Nvidia, Meta, and Microsoft all ended lower. The stock market will be closed Thursday for Thanksgiving.

The Cboe Skew Index, which measures options traders’ demand for tail-risk hedges, has risen sharply since Nov. 12, when it touched a post-election low. The index closed above 167 on Monday, its highest reading in more than two months, according to LSEG data.

Technology stocks helped pull stocks lower on Wall Street Wednesday, handing the market its first loss in more than a week. The S&P 500 fell 0.4%, even though more stocks in the index notched gains than ended lower.

Shares were mixed Thursday in Asia after stocks on Wall Street retreated, weighed down by losses for technology shares. Tokyo's Nikkei 225 index gained 0.7% to 38,400.00 and Australia's S&P/ASX 200 advanced 0.