US: Wall Street slumps on weak tech, energy shares
[NEW YORK] Weakness in energy equities and technology giants Apple and Facebook pushed US stocks lower Friday, cutting into the gains of the prior two sessions.
An exception was Twitter, which surged 21.4 per cent following reports it is in talks with potential acquirers, including Google and Salesforce.com.
At the closing bell, the Dow Jones Industrial Average was at 18,261.45, down 0.7 per cent.
The broad-based S&P 500 fell 0.6 per cent to 2,164.69, while the tech-rich Nasdaq Composite Index shed 0.7 per cent to 5,305.75.
Apple fell 1.7 per cent on speculation that iPhone sales have been disappointing, while Facebook lost 1.6 per cent on concerns about its online advertising prospects.
Oil-linked stocks fell with petroleum prices, as Halliburton shed 1.9 per cent and ConocoPhillips lost 2.6 per cent.
Analysts said the market was due for a pullback after the Nasdaq finished at records the last two days following the Federal Reserve's decision to keep interest rates low.
AFP
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%