Technology stocks sold off sharply on Friday, taking a toll on the Nasdaq and dragging on other major Wall Street indexes, which touched record highs earlier in the day. The technology sector .SPLRCT, which soared this year and led the market’s rally, finished down 2.7 percent, after paring declines. The Nasdaq Composite .IXIC dropped 113.85 points, or 1.8 percent, to end at 6,207.92. Advancing issues outnumbered declining ones on the NYSE by a 1.68-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favored advancers. About 8.7 billion shares changed hands on U.S. exchanges, well above the 6.7 billion daily average over the last 20 sessions.

Source: Egypt Independent June 09, 2017 22:07 UTC