Tech Slump Drags Stocks Lower

Dow ends day down 36
By Newser Editors and Wire Services
Posted Jun 12, 2017 3:13 PM CDT
Tech Slump Drags Stocks Lower
Trader Kevin Walsh, right, works on the floor of the New York Stock Exchange, Monday, June 12, 2017.   (AP Photo/Richard Drew)

Technology stocks continued to slump, pulling the broader market lower, the AP reports. Netflix, Apple, and Amazon all fell sharply on Monday. Tech has been far outpacing the rest of the market this year. Energy and phone companies, which have lagged the market, rose. Verizon climbed 1% and AT&T gained 0.7%. General Electric jumped 3.6% after Jeff Immelt said he would step down as CEO. The stock has struggled in the 16 years Immelt has run the company. The Standard & Poor's 500 index fell 2 points, or 0.1%, to 2,429. The Dow Jones industrial average lost 36 points, or 0.2%, to 21,235. The Nasdaq dropped 32 points, or 0.5%, to 6,175. (More stock market stories.)

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