Pricey tech stocks and other blue chips on Wall Street suffered their worst weekly loss in three months as investors in US equities sought value by rotating into shares of industries that indicated longer-term returns.
The technology-heavy Nasdaq Composite Index, which comprises stocks such as Amazon, Apple, Netflix and Google, closed at 17,732 for a loss of 0.8% on the day.
For the week, Nasdaq fell 3.6% – the most for a week since late April.The S&P 500 Index, which tracks stocks of the top 500 US companies, settled at 5,508 for a decline of 0.7% on the day. For the week, the S&P lost 2%, also the most for a week since late April.
The Dow Jones Industrial Average, the broadest indicator for US equity markets, finished at 40,288 for a deficit of almost 1%. The Dow was the outlier of the week, rising 0.7%, after back-to-back gains of 1.6% and 0.7% in the prior two weeks. , […]
– Read More: www.infowars.com
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