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Negative Results for the U.S. Stocks on Monday

Author:
Alexandar Machev
Market News

U.S. stocks finished mostly lower Monday, with Nasdaq closing in correction territory, as the government stepped up scrutiny of technology giants for possible violations of antitrust law.

The selloff in tech names comes as the yield on a key bond benchmark fell to a 20-month low, deepening a yield-curve inversion that has accurately predicted economic recessions in the past.

The Nasdaq Composite Index dropped 120.13 points, or 1.6%, to 7,333.02 to finish in correction territory, defined as an index closing at least 10% below its recent peak, which for the Nasdaq was a record finish of 8,164 hit on May 3.

The S&P 500 index slid 7.61 points, or 0.3%, to 2,744.45 while the Dow Jones Industrial Average made a comeback to erase a more than 100-point deficit to edge up 4.74 points to 24,819.78.

 

 

International Financial Markets Department

Euro-Finance Ltd.

forex@eurofinance.bg

www.eurofinance.bg 

*This material should not be considered as a recommendation for buying/selling securities.