United States stocks tumble led by tech, financials

United States stocks tumble led by tech, financials

The Dow Jones Industrial Average plummeted by 602.12 points or 2.23% at the closing bell on Monday amid a firming USA dollar, according to MarketWatch. US stocks closed sharply lower on Monday, as steep losses in Apple shares led the tech rout, dragging the market.

Also improving the market's direction was a rebound in technology stocks, which jumped 0.7%, to recover from a steep sell-off on Monday when Apple shares took a hit on worries about a slowdown in sales of iPhones. The S&P 500 technology sector index fell 3.3 per cent, and the financial sector index fell 1.8 per cent. Goldman Sachs was the biggest drag on the Dow, which fell more than 2 percent. Apple's decline impeded the tech-heavy Nasdaq, which fell more than 2 per cent.

The S&P 500 index fell 39 points, or 1.4 per cent to 2,741.

The stock market was coming off a two-week winning streak for the benchmark S&P 500.

More news: Deepika-Ranveer Wedding: Latest Visuals From Lake Como

The Dow is up 667.96 points, or 2.7 per cent. The Philadelphia SE Semiconductor index dropped 4.4 percent.

Oil prices rose about 1 percent on Monday, breaking a stretch of losses, after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day next year.

Today, more earnings are expected and Home Depot (NYSE:HD) is a notable reporter before the NY bell. Stocks appeared to have regained their footing after a skid in October snapped a six-month string of gains for the S&P 500.

Stocks attempted to bounce earlier in the session amid reports of renewed trade talks between the US and China.

More news: Trump Preparing to Oust Homeland Security Secretary, Post Says

ENERGY: Benchmark U.S. crude bounced back from 10 days of losses, climbing 0.7 percent to $60.64 per barrel in NY.

Stocks are opening moderately lower on Wall Street, led by declines in technology and internet companies.

While companies got a boost this year from the lower tax rates put in place by President Donald Trump and the GOP last December, several companies have recently warned about the impact of higher costs related to tariffs and rising interest rates. Aphria Inc. lost 8.5 per cent, while Aurora Cannabis Inc. and Canopy Growth Corp. fell 4.6 per cent and 2.5 per cent, respectively. Brent crude, used to price global oils, lost $1.28 to $68.84 in London.

CURRENCIES: The dollar gained 114.01 yen from Monday's 113.84 yen. Germany's DAX lost 1.8 percent and France's CAC 40 fell 0.9 percent.

More news: Apple, Amazon strike deal to boost sales in India, other key markets

Major stock indexes in Europe also ended lower Monday. Japan's Nikkei 225 added 0.1 percent, while Hong Kong's Hang Seng rose 0.1 percent.

Related Articles

  • Palm Beach machines overheat, miss recount votes

    Palm Beach machines overheat, miss recount votes

    A program handed out earlier this week included a blank portrait instead of Scott's face as votes are still being recounted. Supervisor of Elections Susan Bucher said that the machines are "old" and were not created to work around the clock.
    Kellyanne Conway Defends 'Doctored' Jim Acosta Video

    Kellyanne Conway Defends 'Doctored' Jim Acosta Video

    On Friday the Boston Globe's editorial board called for a White House press walkout. Trump also said he would revoke journalists' press credentials if they upset him.
    Saudi, US agree to end refuelling support for Yemen war

    Saudi, US agree to end refuelling support for Yemen war

    The rebels have since been driven out of virtually all of the south and much of the Red Sea coast, with the exception of Hodeidah. Mariam Aldogani, Save the Children's field coordinator in Yemen, said Hodeida's residents are living in a "state of fear".
  • After Cease-Fire, Israel Captures Gaza Terrorist on Border

    After Cease-Fire, Israel Captures Gaza Terrorist on Border

    We will dictate the time and circumstances that are right for Israel and are right for the security of our people. He later backed off and said he was committed to "responsible, reasonable policy".
    First victim identified in deadly California wildfires

    First victim identified in deadly California wildfires

    Other volunteer opportunities related to the fires are posted on California Volunteers , including financial and other donations. Together, responsible for the destruction of 179 structures, but another 57,000 are threatened, according to fire officials.
    Recounts for Florida governor and senate races

    Recounts for Florida governor and senate races

    If the margin in a statewide race is less than 0.5 percent, Detzner is required to order a machine recount . That has changed, with the Legislature passing a clear procedure on how a recount should be conducted.
  • NBC5 Forecast: Chilly today; Very cold tonight | Weather

    NBC5 Forecast: Chilly today; Very cold tonight | Weather

    At the moment, there is very little signal for wintry conditions, with any snow more likely to be confined to higher ground'. Rain begins Wednesday morning: starting as showers, getting heavier and becoming more widespread between 10 AM and noon.
    Kate Middleton Stuns in a Dress She First Wore Six Years Ago!

    Kate Middleton Stuns in a Dress She First Wore Six Years Ago!

    Having more time with him at home would be lovely, and being able to you know play around with the grandchildren. Prince Charles , his grandson Louis and Duchess Kate star in a new photo.
    Apple Shares Tumble Along With iPhone Suppliers As Sales Dry Up

    Apple Shares Tumble Along With iPhone Suppliers As Sales Dry Up

    It doesn't matter a lot how many units there are in there in terms of the overall value of what's in the cart". Apple said earlier this month that it will no longer provide iPhone sales figures to investors.
  • What we learned from New England Patriots loss to the Tennessee Titans

    What we learned from New England Patriots loss to the Tennessee Titans

    Kansas City is now 9-1, and if they have any hopes of beating them at a playoffs game, they'll need to start reassessing tactics. Former Patriots cornerback Malcolm Butler has struggled, giving up touchdown passes through the first half of the season.
    Rain washes away Pakistans chance of series win over New Zealand

    Rain washes away Pakistans chance of series win over New Zealand

    Along with Prithvi Shaw, Shaheen Shah Afridi too played in U-19 for India's arch rival " Pakistan ". On these wickets, with variable bounce hitting a hard length is tougher.
    Carmelo Anthony won’t join Rockets on trip to Denver

    Carmelo Anthony won’t join Rockets on trip to Denver

    But Tim MacMahon of ESPN reported after Sunday's game that the Rockets indeed have made a decision to part ways with Anthony. It would not surprise me if we hear of some personal issues between Carmelo and the coaching staff as this story develops.