Tech titans drag Wall St. lower as virus cases mount

), which were pivotal in driving the stock market’s recovery in recent months, fell 0.5% and 0.3% respectively.Intel Corp tumbled 15.3% after the company said it was six months behind schedule in developing next-generation, power-efficient chip technology and that it would consider farming out more work to outside semiconductor foundries.

U.S. stocks are set to fall for the second day as investors feared that the COVID-19 health crisis that has spiraled in recent weeks and has infected over 4 million Americans, could hamper a recovery in economic activity. “Our fundamental outlook for the U.S. economy is a long recovery. We do not see sustained growth in employment even under scenario where we have a vaccine, it’s still going to take a long time for this virus to get under control,” said Greg Hahn, chief investment officer at Sanctuary Wealth in Indiana.

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