S&P 500 closes lower after hitting another record, Apple market cap tops $2 trillion; European markets close higher after record highs on Wall Street; Maersk up 5%; BELEX15 down 0.22%; NBS reiterate its 2020 GDP forecast (1.5% drop) 
Stocks closed lower on Wednesday as a grim outlook on the economy from the Federal Reserve thwarted the enthusiasm around a record valuation for Apple. The S&P 500 fell 0.4% to 3,374.85. The Dow Jones Industrial Average slid 85.19 points, or 0.3%, to close at 27,692.88. The Nasdaq Composite lagged, falling 0.6% to 11,146.46. 
In corporate news, Target rose more than 12% after the retailer reported soaring profit and sales last quarter. Digital sales increased by 197% from a year ago. Lowe’s shares gained 0.2% after the home improvement retailer reported a 30% surge in second-quarter revenue. 

European stocks closed higher on Wednesday, calming after a strong session stateside that saw the S&P 500 hit a fresh record high. The pan-European Stoxx 600 provisionally ended up around 0.6%, having fluctuated at the start of trading. The banking index gained almost 1.4% to lead gains, while retail and utilities dipped into negative territory. 
On the earnings front, Maersk, the world’s largest shipping firm, beat second-quarter profit expectations on Wednesday and said it expects demand to pick up in the third quarter, but warned of a “significant decline” across the year. Maersk shares were up 5% by the afternoon. 

BELEX15 was down 0.22% as Belgrade Airport was down 2.5%, which neutralized 1.4% gain at NIS. NIS was the most active name at the same time, with RSD 1.4m in volume. 
In its latest inflation report NBS said that it still expects GDP to decline by around 1.5% in real terms in 2020 and to rise by around 6% in 2021. More favorable than expected trends in Q2 suggest that the economic slowdown this year could be even softer than projected. 
Source: CNBC, Ilirika