Technology stocks assisted pull stocks lower on Wall Street Wednesday, handing the market its veryfirst loss in more than a week.
The S&P 500 fell 0.4%, even however more stocks in the index notched gains than ended lower. The loss snapped a seven-day winning streak for the criteria index.
The Dow Jones Industrial Average fell 0.3%, its veryfirst loss after 5 gains. The Dow and S&P 500 stay near the all-time highs they set on Tuesday.
The Nasdaq composite, which is greatly weighted with innovation stocks, fell 0.6%.
Losses for tech heavyweights like Nvidia, Microsoft and Broadcom were the drag on the market. Semiconductor huge Nvidia fell 1.2%. Its substantial worth offers it outsized impact on market indexes. Microsoft fell 1.2% and Broadcom endedup 3.1% lower.
Several individual computersystem makers likewise assisted pull the market lower following their mostcurrent incomes reports.
HP sank 11.4% after providing financiers a weaker-than-expected incomes projection for its present quarter. Dell moved 12.2% after its newest quarterly profits fell brief of Wall Street projections.
Gains for monetary and health care business assisted mood the market’s losses. Berkshire Hathaway increased 0.9% and Merck & Co. included 1.5%.
All informed, the S&P 500 fell 22.89 points to 5,998.74, while the Dow dropped 138.25 points to 44,722.06. The Nasdaq fell 115.10 points to 19,060.48.
Traders likewise had their eye on brand-new reports on the economy and inflation Wednesday.
The U.S. economy broadened at a healthy 2.8% yearly speed from July through September, according to the Commerce Department, leaving its initial quote of third-quarter development thesame. The development was driven by strong customer costs and a rise in exports.
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