The central parity rate of the Chinese currency renminbi, or the yuan, weakened 41 pips to 6.8635 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.
In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Chinese yuan weakens to 6.8635 against USD Wednesday
U.S. stocks ended lower on Tuesday as lingering uncertainty over the second round of peace talks between the United States and Iran stoke investors' concerns over rising tensions in the Middle East.
The process of the expected second round of peace talks between the United States and Iran seems stalled as Iran reportedly decided not to take part, accusing the United States of violating the ceasefire. Meanwhile, U.S. President Donald Trump announced to extend the ceasefire on some conditions.
At the close of Tuesday's trading session, the Dow Jones Industrial Average fell by 293.18 points, or 0.59 percent, to 49,149.38. The S and P 500 sank 45.13 points, or 0.63 percent, to 7,064.01. The Nasdaq Composite Index shed 144.429 points, or 0.59 percent, to 24,259.964.
Ten of the 11 primary S and P 500 sectors ended in red, with real estate and utilities leading the laggards by going down 1.94 percent and 1.75 percent, respectively. Meanwhile, energy bucked the trend by adding 1.31 percent.
Following Apple's leadership reshuffle announcement, the company's shares fell 2.52 percent on Tuesday, leading the declines among the "Magnificent Seven" technology giants.
Apple said Monday that CEO Tim Cook will become executive chairman of the company's board of directors, while John Ternus, Apple's senior vice president of hardware engineering, will become the company's next CEO effective Sept 1, 2026.
US stocks end lower amid uncertain 2nd round of peace talks with Iran
