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Dow Ends Day Down 165

US stocks close lower
By Newser Editors and Wire Services
Posted Jun 27, 2018 3:00 PM CDT
Specialist Meric Greenbaum, left, and trader Peter Mancuso works on the floor of the New York Stock Exchange, Wednesday, June 27, 2018.   (AP Photo/Richard Drew)

(Newser) – US stocks are closing lower on Wall Street Wednesday as a slump in technology stocks helped drag US indexes to modest losses in the afternoon, the AP reports. The Dow Jones industrials fell 165 points or 0.7% to 24,117 and the S&P 500 slid 23 points or 0.9% to 2,699. The Nasdaq composite lost 116 points to 7,445, its lowest close since May 31. Stocks rose early but the gains disappeared in the afternoon after Larry Kudlow, director of the National Economic Council, said in an interview that the Trump administration wasn't softening its stance on imposing limits on Chinese investments. Crude oil jumped to $72.76, hitting its highest point since 2014. Concho Resources rose 4.6%. (Read more stock market stories.)

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