US Stocks Sink Dragged by Tech
Wall Street closed deeply in the red on Wednesday to erase early session gains, as the sell-off in the tech sector resumed after Tuesday’s rebound. On the corporate side, Apple led declines with a sharp 4.2% drop. In contrast, Nike shares jumped 8.7% after an earnings beat and Twitter stocks climbed 6.1% after receiving a rating upgrade from Pivotal Research. On the macro side, IHS Markit’s manufacturing PMI came in at 53.5, below expectations of 53.8. On the policy side, the House passed on Tuesday a bill to avoid a government shutdown through 11 December, sending the legislation to the Senate ahead of a 30 September deadline. The Dow Jones tanked 525 points or 1.9% to 26,763. The S&P 500 sank 79 points or 2.4% to 3237. The Nasdaq plunged 331 points or 3% to 10,633.
6 hours ago