Xinhua
12 Aug 2020, 02:29 GMT+10
NEW YORK, Aug. 11 (Xinhua) -- U.S. stocks dropped on Tuesday, dragged by losses in big tech names.
The Dow Jones Industrial Average fell 104.53 points, or 0.38 percent, to close at 27,686.91. The S&P 500 was down 26.78 points, or 0.80 percent, to 3,333.69. The Nasdaq Composite Index decreased 185.53 points, or 1.69 percent, to 10,782.82.
Shares of Apple and Microsoft dipped 2.97 percent and 2.34 percent, respectively, leading the laggards in the Dow.
Shares of other U.S. tech giants such as Facebook, Amazon, Netflix and Google-parent Alphabet also finished lower.
The S&P 500 technology and communication services sectors slipped 1.78 percent and 1.3 percent, respectively.
Earlier in the session, the Dow and the S&P 500 rallied as the market found some support from the reports that Russian President Vladimir Putin said the country has registered the world's first vaccine against the novel coronavirus.
U.S.-listed Chinese companies traded mostly higher on Tuesday, with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
Get a daily dose of Cincinnati Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cincinnati Sun.
More InformationDOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
JERUSALEM, Israel: Israeli Prime Minister Benjamin Netanyahu says that Israel's success in the war with Iran could open the door to...
NEW DELHI, India: India has decided not to allow a United Nations (UN) investigator to join the investigation into the recent Air India...
BONN, Germany: Despite widespread belt-tightening across the United Nations, nearly 200 countries agreed this week to increase the...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....
SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....
SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...
NEW YORK CITY, New York: The U.S. dollar tumbled this week, hitting its lowest levels since 2021 against the euro, British pound, and...