• Dow drops 350 points as tech shares slide, S&P 500 snaps 4-day win streak

    24 Jul 2020 | SET News
 

Dow drops 350 points as tech shares slide, S&P 500 snaps 4-day win streak


Stocks fell in volatile trading on Thursday as Microsoft and Apple led the broader market lower and traders pored through disappointing unemployment data.
The Dow Jones Industrial Average dropped 353.51 points, or 1.3%, to 26,652.33. The S&P 500 slid 1.2%, or 40.36 points, to 3,235.66, snapping a four-day winning streak. The Nasdaq Composite fell 2.2%, or 244.71 points, to 10,461.42 as the sell-off in major technology companies deepened.


Microsoft shares slipped 4.3% despite reporting better-than-expected earnings for the previous quarter. Though the company’s results were largely positive, Microsoft said its transactional license purchasing continued to slow and that subsidiary LinkedIn was negatively impacted by the weak job market.

Apple traded 4.5% lower, while Amazon and Netflix dropped 3.6% and 2.5%, respectively. Tesla, meanwhile, gave back its earlier gains and fell nearly 5% despite reporting earnings that blew past analyst expectations. Elon Musk’s automaker also said it’s set “for a successful second half” and reiterated its goal of delivering 500,000 vehicles this year.


Reference: CNBC

MTS Gold Co., Ltd.
40,42,44, Sapsin Road, Wang Burapha Phirom Sub-district, Pranakorn District, Bangkok, 10200
Tel. 0 2770 7777 Fax. 0 2623 9366 E-mail: support@mtsgoldgroup.com