Wall St indices end lower as chip, oil stocks drop

Quick Summary:

Wall Street's major stock indices closed lower on Tuesday, with a 1% drop in the technology-heavy Nasdaq leading losses as chip stocks tumbled on demand concerns while the energy sector fell 3% as oil prices dropped.

The Dow Jones Industrial Average fell 324.80 points, or 0.75%, to 42,740.42, the S&P 500 lost 44.59 points, or 0.76%, to 5,815.26 and the Nasdaq Composite lost 187.10 points, or 1.01%, to 18,315.59.

But while Gordon saw weaker-than-expected earnings as an excuse to sell off chip stocks, he was encouraged that there were roughly as many stocks advancing as declining on the Nasdaq.

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Category: EconomyBusiness

Markets: MalaysiaIsrael

Topics: EnergySector Markets /Business/ EarningsReports TechStocks WallStreet NasdaqDrop ChipStocks

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 07:29:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 709 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23080120

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