Tech stocks drag Wall Street lower in choppy trade

NEW YORK: The Nasdaq slid on Thursday as investors sold technology shares and bought underpriced stocks likely to do well on expectations the U.S. economy grows at its fastest pace in decades this year.

Five of the 11 S&P sectors fell, led by the communication services and technology indexes that hold some of the best-performing stocks of 2020, including Microsoft Corp, Amazon.com Inc and Netflix Inc. By 2:48 p.m. EDT, the Dow Jones Industrial Average rose 98.61 points, or 0.3per cent, to 32,518.67, the S&P 500 gained 9.04 points, or 0.23per cent, to 3,898.18 and the Nasdaq Composite dropped 23.25 points, or 0.18per cent, to 12,938.64.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street opens lower as spike in yields pressures tech stocksWall Street's main indexes opened lower on Tuesday as a rise in U.S. bond yields hit heavyweight tech-related stocks, while undervalued banks and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street drops as tech stocks hit by spike in yieldsWall Street's main indexes opened lower on Tuesday as a rise in U.S. bond yields hit heavyweight tech-related stocks, while undervalued banks and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tech stocks drag Wall Street lower at openWall Street's main indexes opened lower on Thursday, dragged down by heavyweight technology stocks, while data showed jobless claims fell last ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »