ARMONK, N.Y. — International Business Machines shares fell 3.22% to $240.31 in midday trading Wednesday, down $7.99, as the stock gave back Tuesday's gain and traded near the low end of a year that has already cut about 19% from the price.

The stock closed Tuesday at $248.37. The day's range opened near $240.50 with a low around $239.70. The 52-week span is $199.19 to about $332. Market value is roughly $228 billion to $234 billion. Next earnings are slated for Oct. 21. The dividend is $6.76 a share, a yield near 2.8%.

There was no IBM earnings release on Wednesday. Headlines around the name included a Commerce Department CHIPS award of $1 billion, through Anderon, an IBM company, aimed at a U.S. pure-play quantum foundry, and continued coverage of an IBM-NASA open-source lunar AI model. Those items did not lift the tape. Broader pressure cited in market wraps included higher oil prices, firmer bond........

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