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Stocks Drop on Economic Worries

Dow ends day down 179
By Newser Editors and Wire Services
Posted Jun 25, 2019 3:00 PM CDT
In this June 19, 2019, file photo trader Robert Chamak works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks are closing lower on Wall Street Tuesday with technology and communications stocks leading the declines, the AP reports. Reports showing a drop in consumer confidence and weakness in the housing market, plus some cautionary remarks from the head of the Federal Reserve, weighed on investor sentiment. The S&P 500 dropped 27 points, or 1%, to 2,917. It's the biggest loss of the month for the benchmark index. Among tech stocks, Microsoft fell 3.2% and Adobe slipped 4%. Google parent Alphabet fell 2.6% and Netflix lost 2.9% as internet companies slumped. The Dow Jones Industrial Average dropped 179 points, or 0.7%, to 26,548. The Nasdaq composite fell 120 points, or 1.5%, to 7,884. (Read more stock market stories.)

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