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Tech Stocks Lead Wall Street Lower Again, Nasdaq Falls 2.5 Percent

tech-stocks-lead-wall-street-lower-again,-nasdaq-falls-2.5-percent

Technology companies led a sell-off on Wall Street Thursday that pulled the major indexes into the red for the week. The S&P 500 fell 1.4 percent after shedding an early gain of 0.4 percent. The benchmark index was coming off two days of gains following daily losses since the first day of trading in 2022. The tech-heavy Nasdaq slumped 2.5 percent. The Dow Jones Industrial Average fell 0.5 percent. The selling came as investors gauged company earnings reports and new data pointing to rising prices at the wholesale level. Inflation has been a key focus for investors as they try to gauge how rising prices will impact businesses, consumers and the Federal Reserve’s policy on interest rates in 2022. “Investors are continuing to be concerned that the worst is yet to be seen in terms of inflation,” said Sam Stovall, chief investment strategist at CFRA. The S&P 500 fell 67.32 …  » Read full article

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