Tag: Elevated

US STOCKS-Tech sell-off hits Wall St as jobless claims remain elevated

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* Weekly jobless claims stuck at high levels

* Fed vows to keep rates low until 2023

* Technology stocks sell off, big U.S. banks fall

* Indexes down: Dow 0.78%, S&P 500 1.30%, Nasdaq 2% (Updates prices to early afternoon)

Sept 17 (Reuters) – Wall Street’s main indexes fell on Thursday after data showed high levels of weekly jobless claims, while technology-related stocks resumed their slide with Apple Inc and Amazon.com Inc among the biggest drags on the Nasdaq.

Nine out of the 11 major S&P 500 sector indexes were lower, with technology stocks leading sectoral declines.

“A lot of this is retail investing. Everybody’s trying to book profits, but also trying not to spook markets either,” said William Herrmann, founder and managing partner at Wilshire Phoenix

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Tech sell-off hits Wall Street as jobless claims remain elevated

(Reuters) – Wall Street’s main indexes fell on Thursday after data showed high levels of weekly jobless claims, while technology-related stocks resumed their slide with Apple Inc and Amazon.com Inc among the biggest drags on the Nasdaq.

FILE PHOTO: The “Fearless Girl” statue is seen outside the New York Stock Exchange in the Manhattan borough of New York, U.S., May 26, 2020. REUTERS/Mike Segar/File Photo

Nine out of the 11 major S&P 500 sector indexes were lower, with technology stocks leading sectoral declines.

“A lot of this is retail investing. Everybody’s trying to book profits, but also trying not to spook markets either,” said William Herrmann, founder and managing partner at Wilshire Phoenix in New York City.

The Nasdaq, which entered correction territory earlier this month, slipped another 2% by midday trading with Facebook Inc, Apple, Amazon.com, Tesla Inc, Microsoft Corp, Alphabet Inc and Netflix

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