US stocks pull back as tech giants hit by EU probe

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Wall Street encountered a slight retreat on Monday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all experiencing downturns after witnessing substantial weekly features beforehand. The Dow Jones dropped by 162.13 factors or 0.41%, settling at 39,313.77. Meanwhile, the S&P 500 and Nasdaq noticed declines of 0.31% and 0.27%, ending at 5,218.21 and 16,384.47, respectively.
Investors are at present navigating by uncertainty concerning the Federal Reserve’s rate of interest route, following final week’s affirmation of three potential fee cuts this yr.However, conflicting remarks from Chicago Fed President Austan Goolsbee and Fed Governor Lisa Cook counsel a cautious method in the direction of rate of interest changes.
Despite the general market dip, particular sectors such as know-how displayed resilience. Notably, shares of Nvidia and Micron Technology surged, though the broader semiconductor section confronted challenges as a result of new laws in China affecting US microprocessors.
Market sentiment stays tentative as members await the upcoming Personal Consumption Expenditures (PCE) value index, a crucial inflation measure influencing the Fed’s choices. This anticipation is ready in opposition to a backdrop of a holiday-shortened buying and selling week, including to the market’s subdued exercise.
Further dynamics embody the efficiency of main firms like Boeing, which introduced important administration modifications, and Walt Disney, which loved an uplift following an improve from Barclays. However, the tech sector confronted extra pressures from a European regulatory probe, significantly affecting giants such as Apple, Alphabet, and Meta.
As the market panorama evolves, traders stay vigilant, weighing the implications of macroeconomic indicators, company developments, and regulatory shifts on their portfolios.
(With inputs from businesses)


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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