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Monday, December 05 2022
Business

Dow dips 300 points, Nasdaq crosses 10,000 mark for first time

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New York: US stocks ended mixed after volatile trading.

On Tuesday, the Dow Jones Industrial Average fell 300.14 points, or 1.09 per cent, to 27,272.30, snapping a 6-day winning streak. The S&P 500 was down 25.21 points, or 0.78 per cent, to 3,207.18, Xinhua news agency reported.

The Nasdaq Composite Index rose 29.01 points, or 0.29 per cent, to close at 9,953.75. The index rallied to a record high earlier in the session, briefly breaking above the 10,000 mark for the first time, fueled by strong gains in major tech shares.

Shares of US tech giants Netflix, Apple, Facebook and Amazon all finished up more than 3 per cent.

Nine of the 11 primary S&P 500 sectors ended lower, with energy and financials down 3.31 and 2.62 per cent, respectively, leading the laggards. Communication services and technology, however, both climbed more than 0.4 per cent.

Investors assessed economy reopening while awaiting a key statement on interest rates from the US Federal Reserve expected Wednesday afternoon.

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