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24 Jul 2020, 08:08:21 AM IST
US equities hunch in a single day on sell-off in tech shares
Wall Street slumped on Thursday as buyers offered tech shares on account of combined earnings reviews and rising indicators of a worsening coronavirus pandemic, which may exacerbate a deep financial recession.
The sell-off steepened after a tech watchdog group reported that Apple Inc faces client safety investigations in a number of states.
U.S. jobless claims unexpectedly ticked larger to 1.416 million final week, the Labor Department mentioned. The quantity excludes recipients of Pandemic Unemployment Assistance, set to run out on 31 July.
This additionally weighed on markets.
The Dow Jones Industrial Average fell 353.51 factors, or 1.31%, to 26,652.33, the S&P 500 misplaced 40.36 factors, or 1.23%, to three,235.66 and the Nasdaq Composite dropped 244.71 factors, or 2.29%, to 10,461.42.
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