Tue, 22 Sep 2020

U.S. stocks fall as tech shares slide

Xinhua
12 Aug 2020, 06:59 GMT+10

NEW YORK, Aug. 11 (Xinhua) -- U.S. stocks dropped on Tuesday, dragged by losses in big tech names.

The Dow Jones Industrial Average fell 104.53 points, or 0.38 percent, to close at 27,686.91. The S&P 500 was down 26.78 points, or 0.80 percent, to 3,333.69. The Nasdaq Composite Index decreased 185.53 points, or 1.69 percent, to 10,782.82.

Shares of Apple and Microsoft dipped 2.97 percent and 2.34 percent, respectively, leading the laggards in the Dow.

Shares of other U.S. tech giants such as Facebook, Amazon, Netflix and Google-parent Alphabet also finished lower.

The S&P 500 technology and communication services sectors slipped 1.78 percent and 1.3 percent, respectively.

Earlier in the session, the Dow and the S&P 500 rallied as the market found some support from the reports that Russian President Vladimir Putin said the country has registered the world's first vaccine against the novel coronavirus.

U.S.-listed Chinese companies traded mostly higher on Tuesday, with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

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