US stocks close lower after tech giants sharply fall


The indices closed the Standard & Poor’s 500 and Nasdaq stocks on Monday, affected by sharp losses of shares of Amazon and Microsoft and other big names led the rise of the Wall Street recently.
The Standard & Poor’s 500 declined after touching earlier in the session the highest level since February 25. The index has recovered more than 40 percent since mid-March, even with a rapid rise in cases of Covid-19 disease in Arizona, California, Texas and around 35 other US states.
After recording a strong performance in the past few months, shares of Amazon, Microsoft, Nvidia and Facebook ended today’s session with a sharp drop after retracting gains earlier in the session, according to “Reuters”.
Investors are gearing up for what could be the steepest fall in the quarterly profits of the 500 companies listed on the S&P index since the global financial crisis, according to IPS Refinitive data. Bank results will be the focus of attention this week.
The Standard & Poor’s 500 Index ended the trading session, dropping 29.82 points, or 0.94 percent, to 3,155.22 points, while the Nasdaq Composite Index closed 226.60 points, or 2.13 percent, to 10390.84 points.
But the Dow Jones industrial average closed 10.50 points, or 0.04 percent, at 26085.80 points, supported by gains for a few companies, including Biontech and Pfizer with two of their experimental vaccine against Corona virus receiving initial approval from the US Food and Drug Administration.


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