Tech Stocks Reversed Most Gains And Dropped as Investors Keep Rotating Out of the Sector
Technology and large-cap growth shares led losses as traders weighed weaker earnings and softer risk appetite, with the Nasdaq 100 down about 1.40%, officials said.
- On Monday, the Nasdaq Composite fell more than 1% after being up 1.4% earlier, while the S&P 500 dropped 0.51% after gaining 1.1% earlier in the session.
- Technology sector struggles persisted as Alphabet erased initial gains after reporting slower-than-expected growth, while Nvidia shares also declined during the session.
- Oil prices dropped $10 per barrel, as President Donald Trump claimed, "Oil Prices are DROPPING LIKE A ROCK," boosting United Airlines, Southwest Airlines, and Carnival.
- US manufacturing outperformed Europe last month, while Idexx Laboratories reported stronger profit, as the Institute for Supply Management survey indicated prices are rising at a slower pace.
- Investors look toward midterm elections to inform their short-term decisions, while analysts anticipate that companies will continue delivering gains despite broader economic concerns.
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14 Articles
Reformatorisch Dagblad
New York stock exchanges closed mostly lower on Monday, despite a sharp drop in oil prices. Tech stocks, in particular, were under pressure due to growing investor concerns about high investments in artificial intelligence. Stock traders also adopted a cautious approach ahead of the US midterms on Tuesday.
(New York = Yonhap News) Correspondent Kim Yeon-sook = Major indices of the New York stock market closed mixed on the 2nd (local time).
Ottumwa Courier
The Independent OnlineMore drops for AI and tech stocks overshadow gains for most of Wall Street
A morning rally for U.S. stocks petered out as the tech and AI industries remained shaky following their sell-off last week. The S&P 500 fell 0.5% Monday after erasing a gain that reached 1.1% early in the day. The Dow…
Investors turn to traditional industries, while concerns about the cost of artificial intelligence weigh on technology stocks – Oracle, Apple and the US midterm elections in focus
The New York Stock Exchange ended in dispersed order on Monday, with the technology sector undergoing a new wave of sales despite a green opening, against the backdrop of falling oil prices.
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