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Stocks Close Lower With Sharp Tech Losses

Dow ends day down 101
By Newser Editors and Wire Services
Posted Nov 9, 2017 3:18 PM CST
Stocks Close Lower With Sharp Tech Losses
Specialist Gregg Maloney, left, and trader Gordon Charlop work on the floor of the New York Stock Exchange, Thursday, Nov. 9, 2017.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing lower Thursday, with technology and industrial companies taking the sharpest losses after Senate Republicans surprised Wall Street by proposing a delay in cutting corporate taxes, the AP reports. EBay slid 3.5% and Microsoft fell 0.6%. Among industrial companies, Johnson Controls sank 6.1% and Boeing lost 0.6%. Media companies rose after a strong third-quarter report from Twenty-First Century Fox, which gained 3%. Macy's climbed 11% after its quarterly profit surpassed analyst estimates. Competitor Kohl's didn't fare as well and rose only 0.9%. The Standard & Poor's 500 index fell 9 points, or 0.4%, to 2,584. The Dow Jones industrial average declined 101 points, or 0.4%, to 23,461. The Nasdaq composite index fell 39 points, or 0.6%, to 6,750. (Read more stock market stories.)

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