Dow dips 50 points to start the week as tech weakness continues
Persistent weakness in technology stocks led the major indexes lower on Monday after last week’s hotter-than-expected inflation readings sparked a downturn in equity markets.
The Dow Jones Industrial Average dipped 54.34 points, or 0.2%, to 34,327.79. The S&P 500 lost 0.3% to 4,163.29 as the tech sector pulled back 0.7%. The Nasdaq Composite fell 0.4% to 13,379.05.
The tech-heavy Nasdaq Composite, which got hit particularly hard by inflation fears, dropped 2.3% last week. The blue-chip Dow fell 1.1% in that period. All three benchmarks posted their worst week since February 26.
Reference: CNBC
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