“Dow drops 150 points to start the week as tech shares lag”
May 17, 2021
“The Dow Jones Industrial Average fell 150 points, or 0.45%, as Home Depot and Boeing weighed on the blue-chip index. The S&P 500 also lost 0.45% as the tech sector pulled back 0.7%. The Nasdaq Composite fell 0.7%.
Big Tech quickly came under pressure to start the week, with Apple and Facebook each down 0.8%, Netflix down 1% and Google-parent Alphabet shedding 0.6%. Traders have punished the technology sector in recent weeks amid a broader shift out of growth stocks and into cyclical, reopening trades in energy, financials and materials…
Wall Street came off one of the wildest weeks of 2021 that saw the S&P 500 fall 4% through midweek amid heightened inflation fears. The broad equity benchmark eventually rebounded and ended the week down just 1.4%.
The tech-heavy Nasdaq Composite, which got hit particularly hard by inflation fears, dropped 2.3% last week. The blue-chip Dow fell 1.1% in that period. All three benchmarks posted their worst week since February 26…”
https://www.cnbc.com/2021/05/16/stock-market-open-to-close-news.html