Wall St ends lower, pulled down by tech stocks
Wall Street ended decrease on Monday, weighed down with the aid of using tech stocks as symptoms and symptoms of developing inflation involved traders approximately the capability for tighter economic policy.
Of the eleven primary S&P sectors that declined, technology, utilities and communique offerings have been the most important losers, every down among 0.7% and 0.9%
The S&P 500 scored its largest one-day soar in extra than a month on Friday as traders picked up beaten-down shares following a pullback in advance the week on concerns approximately inflation and a sooner-than-predicted tightening with the aid of using the U.S. Federal Reserve.
The Dow Jones Industrial Average fell 56.12 points, or 0.16%, to 34,326.01; the S&P 500 misplaced 10.42 points, or 0.25%, at 4,163.43; and the Nasdaq Composite dropped 50.93 points, or 0.38%, to 13,379.05.
Earnings this week might be scrutinized for clues on whether or not growing expenses had any effect on customer call for and if stores can maintain their sturdy profits momentum.
AT&T Inc. (NYSE: T), proprietor of HBO and Warner Bros studios, and Discovery (NASDAQ: DISCA) Inc., domestic to way of life TV networks together with HGTV and TLC, stated on Monday they'll integrate their content material property to create a standalone international amusement and media business. AT&T stocks declined 2.69%, even as Discovery fell approximately five.04%.
Volume on U.S. exchanges become 9.8 billion stocks, in comparison with the 10.5 billion common during the last 20 buying and selling days.
On the Nasdaq a hundred the biggest gainer become Trip.Com Group Ltd, which rose 3.8%, even as the biggest decliner become Comcast Corp (NASDAQ: CMCSA), down 5.5%.
Advancing troubles outnumbered decliners at the NYSE with the aid of using a 1.13-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio desired advancers.
The S&P 500 published 38 new 52-week highs and no new lows; the Nasdaq Composite recorded a hundred and ten new highs and 63 new lows.