Major US Indexes Decline Amid Technology Sector Selloff
Wall Street's primary indexes experienced a significant downturn this week, with the S&P 500 and Dow Jones Industrial Average each declining by at least 1%. The decline was primarily driven by a sharp selloff in the technology sector as investors reacted to disappointing earnings and guidance from major industry players. Intel saw a massive single-day plunge of nearly 26% following weak forward guidance, while Alphabet experienced a 12.2% drop after reporting underwhelming results. The broader tech rout extended to other software giants including Microsoft and Amazon, weighing heavily on market performance.
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Topics: Earnings Results Stock Market Technology Sector
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