• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Friday, September 22, 2023
Ellis County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Gaming

Nasdaq Dives Over 2% As Tech Stocks Slide At End Of Volatile Week – Reuters

nasdaq-dives-over-2%-as-tech-stocks-slide-at-end-of-volatile-week-–-reuters
Share on FacebookShare on Twitter
Register now for FREE unlimited access to reuters.com
  • Non-farm payrolls increase less than expected
  • DocuSign plunges after disappointing forecast
  • Nucor rises on hiking quarterly dividend by 23%
  • Indexes down: Dow 0.17%, S&P 0.91%, Nasdaq 2.07%

Dec 3 (Reuters) – Wall Street’s major indexes fell in choppy trading on Friday, with the Nasdaq tumblingmore than 2%, as mixed jobs data, uncertainty around the Omicron coronavirus variant and the path of the Federal Reserve’s policy tightening weighed.

The S&P 500 technology index (.SPLRCT) slid 1.9%, leading losses among the 11 major sectors.

Shares of Apple Inc (AAPL.O), Meta Platforms (FB.O), Google-owner Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O), Nvidia Corp (NVDA.O) and Tesla Inc (TSLA.O) fell between 1.4% and 6.1% to weigh the most on the S&P 500 and the Nasdaq.

Register now for FREE unlimited access to reuters.com

“What you’re seeing is the influence of technology and that is directly related to Apple, Microsoft and Nvidia etc. It’s reverse of what we’ve seen historically where the main drivers of the index are the big stocks,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

Wall Street opened higher after the Labor Department’s report showed nonfarm payrolls increased less than expected in November, but the unemployment rate dropped to 4.2%, the lowest since February 2020, and wages increased further. read more

“The numbers are indicating that the economy is very strong. So it is confirmation of some of the things that Powell was talking about on the Hill this week, and is supportive of the fact that you’re probably going to see a more aggressive Fed,” said Kingsview’s Nolte.

Fed Chair Jerome Powell said earlier this week that the U.S. central bank will consider at its upcoming meeting a faster wind-down to its bond-buying program to tackle surging price pressures, a move widely seen as opening the door to earlier interest rate hikes.

The cyclical-linked Dow (.DJI) and economy-sensitive S&P sectors like industrials (.SPLRCI), materials (.SPLRCM), energy (.SPNY) and financials (.SPSY) fared better in the day’s broad selloff.

Separately, a measure of U.S. services industry activity hit a fresh record high in November as businesses boosted hiring. read more

A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly/File Photo

Equity markets have swung wildly this week as investors digested updates on the newly detected Omicron variant, which is spreading globally and prompting countries to reimpose travel restrictions.

“Even if Omicron is not too virulent, all of this, coupled with a hawkish Fed, speaks to increased caution for risk assets, although if corporate profits continue upward, overall equities should still rise except perhaps many of the most expensive ones,” said John Vail, chief global strategist at Nikko Asset Management.

The main three indexes are on course for steep weekly losses, with the Dow tracking its fourth straight fall.

Wall Street’s fear gauge, the CBOE Market Volatility index (.VIX), was last trading at 30.70 points.

At 12:42 p.m. ET, the Dow Jones Industrial Average (.DJI) was down 60.24 points, or 0.17%, at 34,579.55, the S&P 500 (.SPX) was down 41.62 points, or 0.91%, at 4,535.48, and the Nasdaq Composite (.IXIC) was down 319.08 points, or 2.07%, at 15,062.25.

DocuSign Inc (DOCU.O) plunged 40% after the electronic signature solutions firm forecast downbeat fourth-quarter revenue.

Nucor Corp (NUE.N) added 3.7% after the steel products maker increased its quarterly dividend by 23% and announced a $4 billion buyback program.

Declining issues outnumbered advancers for a 2.52-to-1 ratio on the NYSE and for a 3.94-to-1 ratio on the Nasdaq.

The S&P index recorded eight new 52-week highs and five new lows, while the Nasdaq recorded 12 new highs and 585 new lows.

Register now for FREE unlimited access to reuters.com

Additional reporting by Anisha Sircar and Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila and Maju Samuel

Our Standards: The Thomson Reuters Trust Principles.

Ellis County News Online

© 2021 Ells County News Online

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 Ells County News Online

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT