Stocks close lower as tech drop thwarts market rebound
A decline in tech shares pulled stocks lower Monday as Wall Street tried to regain its footing after last week’s sharp losses.
The Dow ended 89 points lower after rising more than 140 points at its session high. The S&P 500 slid 0.6 percent as the tech sector fell more than 1 percent. The tech-heavy Nasdaq shed nearly 0.9 percent.
Apple and Netflix pulled back more than 0.5 percent each. Netflix fell after Raymond James slashed its price target on the video-streaming giant. Apple dropped after Goldman Sachs said the tech giant’s earnings could fall short this year as demand in China slows. Amazon, Microsoft and Alphabet also traded lower.
Chipmarkers also fell. The VanEck Vectors Semiconductor ETF (SMH) declined 0.6 percent, led by a 3.5 percent decline in Nvidia.
https://www.msn.com/en-us/money/markets/stocks-close-lower-as-tech-drop-thwarts-market-rebound/ar-BBOoXsI
