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Stocks Sink as Tech Slump Continues

S&P 500, Nasdaq close lower, but Dow gains 20 points
By Newser Editors and Wire Services
Posted Sep 6, 2018 3:20 PM CDT
Specialists Matthew Greiner, left, and Peter Mazza, center, work with trader Peter Mancuso on the floor of the New York Stock Exchange, Thursday, Sept. 6, 2018.   (AP Photo/Richard Drew)

(Newser) – Technology companies are finishing another day of sharp losses Thursday, although the broader market didn't fare as badly, the AP reports. Apple fell 1.7% Thursday. Chipmakers sank after a KLA-Tencor executive said business in the fourth quarter looks weaker than the company expected. KLA lost 10.4%. Facebook lost 2.7% and Twitter fell 5.9% after similar drops the day before. Industrial companies and big dividend payers canceled out some of those losses. Defense contractor Lockheed Martin rose 2.4% and General Mills added 3.2%. The S&P 500 index fell 10 points or 0.4%, to 2,878. The Dow Jones Industrial Average gained 20 points to 25,995. The Nasdaq composite lost 72 points, or 0.9%, to 7,922. (Read more stock market stories.)

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