Dow drops 500 points | September sell-off intensifies | Tech struggles continue

The broader stock market was under pressure Wednesday, but that wasn't enough to bring down Nike.

VIEW IN BROWSER | SUBSCRIBE WED, SEP 23, 2020 EVENING BRIEF AS OF WED, SEP 23, 2020 • 04:33 ET DJIA 26763.13 -1.92% -525.05 S&P 500 3236.92 -2.37% -78.65 NASDAQ 10632.99 -3.02% -330.65   Most Active DOW NAME LAST CHG %CHG AAPL 107.12 -4.69 -4.19% NKE 127.11 +10.24 +8.76% MSFT 200.59 -6.83 -3.29% S&P 500 NAME LAST CHG %CHG AAPL 107.12 -4.69 -4.19% GE 6.11 -0.14 -2.24% TWTR 45.33 +2.60 +6.08% NASDAQ NAME LAST CHG %CHG AAPL 107.12 -4.69 -4.19% TSLA 380.36 -43.87 -10.34% AAL 11.93 -0.41 -3.32%   EDITOR'S NOTE The broader stock market was under pressure Wednesday, but that wasn't enough to bring down Nike.   The apparel giant's shares rallied 8.8% after it reported better-than-expected results for the previous quarter. Those results were driven by an 82% year-over-year spike in digital sales.   Wednesday's rally marked Nike's biggest one-day gain since March 24, when it surged 15.2%. The stock also on Wednesday reached an all-time high.   An analyst at Deutsche Bank upgraded Nike to buy from hold after the earnings were released, noting the company is a "best-in-class consumer brand."   Those results certainly bode well for Nike investors and could point to improvements on the global economic front.   Nike said its China sales expanded by 6% and revenue for North America — the company's largest market — topped analyst expectations. The company also reported solid growth in the Europe, Middle East and Africa region.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow closes more than 500 points lower as tech pressure mounts, Apple slides 4% Fauci tells Congress the U.S. could have enough coronavirus vaccine doses for every American by April Tesla sues U.S. government to overturn Trump administration tariffs on China Six months since the market bottom, investors see a tougher road into year-end JPMorgan to pay almost $1 billion fine to resolve US investigation into trading practices Interactive Brokers braces for election volatility by telling clients to put up more cash CDC director says more than 90% of Americans remain susceptible to the coronavirus GoodRx jumps 40% in market debut Voter registration surges after Ruth Bader Ginsburg's death, groups say Here's a recap of Wednesday's market action   TOP VIDEO Cleveland Cavs CEO on helping to get out the vote this election   CNBC PRO Mike Santoli's market notes: Corrections are processes, Apple tussle intense, Nike revaluation   SPECIAL REPORTS Google Maps will show Covid-19 outbreaks Mars drops Uncle Ben's brand image after anger over racial stereotyping   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS