Media ININ Economy We Trust
Media IN New York, 15 June, 2019, SPA
The broader U.S. stock market erased earlier losses to close slightly lower, while technology shares fell due to a sharp decline in chip stocks.
For the week, the Dow industrials and Standard & Poor’s 500 were both up 0.6 percent, while the technology-heavy Nasdaq gained 0.9 percent.
The Dow Jones industrial average was little changed, falling 17.16 to 26,089.61. Thirteen of the index’s 30 components dropped, led by Dow Inc. and Cisco Systems, which plunged 3.3 and 2.5 percent, respectively.
Home Depot and Verizon Communications led gainers, advancing 1.7 and 1.15 percent, respectively.
The broader Standard & Poor’s 500 index fell 4.66, or 0.2 percent, to 2,886.98.
The technology-heavy Nasdaq composite index fell 40.47, or 0.5 percent, to 7,796.66. Broadcom fell more than 6 percent after the chipmaker posted weaker-than-expected revenue for the previous quarter and cut its 2019 guidance, citing “broad-based” demand weakness. Other semiconductor stocks also fell.
