Stocks fell on Wall Street Wednesday, sending the market to its first loss in three days, after more depressing data rolled in on the devastation sweeping the global economy. The S&P 500 dropped by 0.7 percent, and three out of four stocks in the index sank. But the market’s losses would have been much worse if not for continued gains for technology stocks. Momentum for Microsoft, Apple and other tech stocks has proven to be nearly unstoppable this year, even in the face of the coronavirus pandemic, and more gains for them almost singlehandedly kept Wall Street steady for much of Wednesday’s trading. The Nasdaq, which is full of tech stocks, added 45.27, or 0.5 percent, at 8,854.39.

Source: The Standard May 06, 2020 20:37 UTC