Tech Stocks Sell-off Pulls Down Major Stock Indexes

AP  File		Workers on the floor of the New York Stock Exchange on Nov. 7

KEEPING SCORE: In Europe, Germany's DAX advanced 0.7 percent to 11,409 and France's CAC 40 added 0.4 percent to 5,081. The Malaysian government is seeking a full refund of fees it paid to the investment bank as part of deals related to the scandal, after Goldman "admitted culpability", according to a report from Bloomberg on Monday. Shares in the company fell 33%.

The market's slide came after a two-week winning streak.

An afternoon recap of the day's most important business news, delivered weekdays. The U.S. stock market opens at 9:30 a.m. EDT on Monday, Nov. 12.

The S&P 500 index fell 46 points, or 1.7 per cent to 2,734.

The Dow Jones Industrial Average fell 170 points on Tuesday as the US equity market struggled to rebound after a steep sell-off in the previous session.

The Nasdaq composite added 0.01 points to 7,200.87.

US-CHINA TRADE: Markets in Shanghai and Hong gained after the South China Morning Post reported Chinese President Xi Jinping's top economic adviser, Vice Premier Liu He, might visit Washington ahead of Xi's planned meeting with U.S. President Donald Trump.

The Dow Jones Industrial Average was down 456.55 points, or 1.76 per cent, at 25,532.75, the S&P 500 was down 44.59 points, or 1.60 per cent, at 2,736.42 and the Nasdaq Composite was down 190.64 points, or 2.57 per cent, at 7,216.27.

Wall Street's major indexes tumbled yesterday as shares of Apple Inc and Goldman Sachs Group Inc dragged down the technology and financial sectors.

The Russell 2000 index of smaller companies gave up 3.99 points, or 0.3 per cent, to 1,514.80. Copper slid 0.3 percent to $2.68 a pound. It was down as much as 509 earlier.

The Nasdaq is up 297.48 points, or 4.3 per cent.

The Canadian dollar edged higher against a broadly stronger USA dollar on Monday, supported by a bounce in the price of oil, but remained close to the multi-month low touched on Friday.

Also improving the market's direction was a rebound in technology stocks, which jumped 0.7%, to recover from a steep sell-off on Monday when Apple shares took a hit on worries about a slowdown in sales of iPhones. Shares in both Apple and Amazon fell in the immediate aftermath of disappointing earnings results.

Stocks appeared to have regained their footing after a skid in October snapped a six-month string of gains for the S&P 500.

Amazon and Alphabet declined 3.35 per cent and 1.69 per cent, respectively.

Stocks are opening moderately lower on Wall Street, led by declines in technology and internet companies.



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