On the New York Stock Exchange and the Nasdaq, more than 2,000 stocks hit 52-week lows on Wednesday. The members of the FAANG group of momentum stocks, which helped lift the Nasdaq on Tuesday, all registered losses. Micron Technology Inc shares fell 7.9 percent after the chipmaker gave a tepid forecast that exacerbated fears the industry's boom was fizzling out. Declining issues outnumbered advancing ones on the NYSE by a 2.58-to-1 ratio; on Nasdaq, a 2.93-to-1 ratio favored decliners. Volume on U.S. exchanges was 10.81 billion shares, compared to the 8.22 billion average over the last 20 trading days.

Source: The Star December 19, 2018 22:48 UTC