US Stock Markets Drop on Tech Losses
US equities fell as the tech sector suffered substantial losses, dragging Nasdaq and S&P 500 lower. Positive economic data and a decent start to earnings season failed to offset the decline.
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US stock indices declined amid heavy selling in the technology sector. The Nasdaq and S&P 500 both moved lower as major tech names came under pressure.
Despite a generally supportive macroeconomic backdrop—including positive US economic data and a relatively strong start to corporate earnings season—the broader market failed to hold gains. The losses were concentrated in growth and tech stocks, dragging the benchmarks into negative territory.
Source: FXStreet Forex News