Wall Street falls as high-tech stocks decline | Market words


The Nasdaq index closed sharply lower on Wednesday after investors sold shares of high-performance technology companies and headed towards sectors likely to benefit from the economic recovery on the back of fiscal stimulus and vaccination programs.

Microsoft Corp, Apple Inc and Amazon.com fell, weighing more than any other S&P 500 stock.

The S&P 500 financial and industrial sector indices reached record levels during the day. Most of the other S&P 500 sectors declined.

The Russell 1000 value index, which is heavily dependent on sectors linked to the economy, has increased.

The Dow Jones Industrial Average fell 119.08 points, or 0.38%, to 31,272.44 points, the S&P lost 50.46 points, or 1.30%, to 3,819.83 points, and the Nasdaq Composite Index declined 361.04 points, or 2.7%, to 12997.75.


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