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<US>DJIA Slips 669 Pts at Close; Nasdaq Sags 2% as Apple Dives 5%
Recommend 3 Positive 3 Negative 6 |
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The US stock market cascaded on Thursday since investors once again sold off tech stocks. The DJIA erased an earlier gain of up to 325 points, closing down 669 points or 1.3% at 49,451. The Nasdaq plunged 469 points or 2%, ending at 22,597. The S&P 500 finished down 108 points or 1.6% at 6,832. Cisco (CSCO.US) logged quarterly results that beat expectations, but its gross margin target was lackluster. This prompted a slump of 12.3% in the stock at close, rendering it the top loser among the DJIA constituents. Heavyweight techs faced hefty selling pressure, with Apple (AAPL.US) down 5%, Meta (META.US) and Amazon (AMZN.US) down over 2%, Nvidia (NVDA.US) down 1.6%, and Microsoft (MSFT.US) down less than 1%. Meanwhile, defensive stocks advanced against the market trend, with Walmart (WMT.US) and Costco (COST.US) gaining 3.8% and 2.1%, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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