Investor sentiment was notably subdued on Wednesday, primarily due to **escalating geopolitical tensions** that impacted risk assets ahead of **Nvidia Corp.'s** highly anticipated third-quarter earnings report. The mood in the market worsened after confirmation that Ukraine deployed U.K.-made Storm Shadow missiles into Russian territory, following their use of U.S.-supplied ATACMS missiles.

The **CBOE Volatility Index (VIX)** surged over 9%, indicating increased investor anxiety. Major U.S. indices were in decline, with the **Nasdaq 100** leading the losses as technology stocks faced significant sell-offs. 

In contrast, the **U.S. dollar** resumed its upward trend, with the **Invesco DB USD Index Bullish Fund ETF** climbing by 0.7%. This safe-haven demand also boosted gold prices, which advanced by 0.7%. Meanwhile, **natural gas** emerged as a standout performer among commodities, soaring over 6% for the day.

Amidst this risk-off sentiment, **Bitcoin (BTC/USD)** defied the odds, climbing over 2% to reach an **intraday all-time high of $94,989**, marking a remarkable **123% gain year-to-date**.

### Wednesday’s Performance In Major Indices, ETFs

| Major Indices                      | Price      | 1-day % chg  |
|------------------------------------|------------|---------------|
| Dow Jones                          | 43,198.51  | -0.2%        |
| S&P 500                            | 5,886.96   | -0.5%        |
| Russell 2000                       | 2,311.30   | -0.6%        |
| Nasdaq 100                         | 20,544.18  | -0.7%        |
| CBOE VIX                           | 17.94      | 9.7%         |

### Wednesday’s Stock Movers

- **Target Corp. (TGT)** fell 22% following a disappointing earnings report.
- Other notable stock reactions include **Keysight Technologies Inc. (KEYS)** up 5.7%, **XP Inc. (XP)** down 6%, and **Williams-Sonoma Inc. (WSM)** up 30%.
- Apart from Nvidia, large-cap tech companies like **Palo Alto Networks Inc. (PANW)** and **Snowflake Inc. (SNOW)** are also set to release earnings results after the market close.

![Bitcoin](https://example.com/bitcoin-image.jpg)  
*Photo: Shutterstock*  

**Read Now:**  
- [Nvidia Stock Historically Drops In December After Q3 Earnings](https://example.com/nvidia-earnings-analysis)  

*Market News and Data brought to you by Benzinga APIs*

Investor sentiment remained subdued on Wednesday as escalating geopolitical tensions weighed on risk assets ahead of the week&#8217;s most anticipated event: Nvidia Corp.&#8217;s (NASDAQ:NVDA) third-quarter earnings report, set to be 

Bitcoin Hits New All-Time High Amid Market Turmoil: What's Fueling This Surge?

**MIAMI** – A grand jury has indicted **nine individuals** for conspiring to launder U.S. currency into **cryptocurrency** on behalf of **drug cartels** and for operating an **unlicensed money-transmitting business**, as announced by prosecutors on Wednesday.  
  
The federal indictment names **Nilson Sneyder Vasquez Duarte**, also known as “**Sobrino**,” as the coordinator of cash and cryptocurrency deliveries to cartels in **Mexico** and **Colombia**. Duarte, aged 34, was reportedly in contact with **black market cryptocurrency exchangers** who acted as couriers, responsible for picking up and delivering cash derived from drug sales.  
  
The other eight individuals indicted include **Hernan Samper, Maria Landeros, Raimundo Rodriguez, Mayccol Morales, Hernan Calvo, Sergio Vargas, Juan Riano**, and **Jesus Rincon**.  
  
**Broward Sheriff’s Office** deputies collaborated with federal agents from **Homeland Security Investigations** and the **Internal Revenue Service** Criminal Investigation division to gather evidence of criminal activities spanning from **2020 to 2023**.  
  
All nine defendants face charges of **one count of conspiracy to commit money laundering** and **one count of operating an unlicensed money-transmitting business**.

A grand jury indicted nine for conspiring to launder U.S. currency into cryptocurrency on behalf of drug cartels and for running an unlicensed money-transmitting business, prosecutors announced on Wednesday.

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