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Wall Street sinks as tech sell-off resumes | Malay Mail

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NEW YORK, Sept 4 — Wall Street’s main indexes extended losses today after plunging in the previous session as technology stocks sold off again, overshadowing data showing a steeper-than-expected drop in the unemployment rate in August. The tech-heavy Nasdaq dropped 4 per cent as mega-cap...

A man walks through the rain on Wall Street outside the New York Stock Exchange October 9, 2019. — Reuters pic

Earlier today, the Labour Department’s closely watched employment report showed jobless rate fell to 8.4 per cent from 10.2 per cent in July, steeper than economists’ forecast of 9.8 per cent. Nonfarm payrolls however, increased less than expected last month. After climbing to record highs on the back of historic stimulus and a narrow rally in heavyweight technology stocks, the S&P 500 and Nasdaq suffered their worst day in nearly three months on Thursday as investors booked gains.

 

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Wall Street ends lower as Nasdaq rout persists | Malay MailNEW YORK, Sept 5 — The Nasdaq closed lower yesterday though well above its session low as selling eased late in the day after investors dumped heavyweight technology stocks due to concerns about high valuations and a patchy economic recovery. The major indexes regained some ground in late...
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