Investing.com-- The S&P 500 closed lower Thursday, pressured by a salesforce-led dent in technology and cautious sentiment ahead of key inflation data due Friday.) fell nearly 20% to remain on track for its worst day since 2004 after reporting guidance that missed analyst estimates. The weaker results come amid a malaise in the software sector that isn't likely to recovery in the second half of the year.
The data came just ahead of remarks by Federal Reserve president John Williams, who pushed back against fears of a rate cut, saying the current level of monetary policy was working to restrain the economy.
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