Tech Losses Weigh on US Stock Indexes

And airlines suffered steep losses
By Newser Editors and Wire Services
Posted Jan 24, 2018 3:22 PM CST
Specialist John Alatzas, center, works at his post on the floor of the New York Stock Exchange, Wednesday, Jan. 24, 2018.   (AP Photo/Richard Drew)

(Newser) – US stocks wobbled and finished mostly lower Wednesday on Wall Street as technology companies, including chip-makers, dropped, the AP reports. Industrial companies were weighed down by steep losses in airlines. United Continental plunged 11% after saying it would ramp up passenger capacity to compete with lower-priced airlines. Delta fell 5% and American Airlines sank 6%. The dollar, already at three-year lows, got even weaker after Treasury Secretary Steven Mnuchin said the declining dollar is good for US exporters. Gold and silver prices rose.

The Standard & Poor's 500 index slipped 1 point to 2,837. The Dow Jones industrial average added 41 points, or 0.2%, to 26,252. The Nasdaq composite fell 45 points, or 0.6%, to 7,415. Bond prices fell. The yield on the 10-year Treasury rose to 2.65%.


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