As tech shares struggled and COVID-19 stimulus talks seem stymied, stocks fell on Wednesday, retreating from the record highs set earlier in the day.
Fred Imbert and Maggie Fitzgerald for CNBC:
The Dow Jones Industrial Average closed 105.07 points lower, or 0.35%, at 30,068.81. The S&P 500 fell 0.8% to 3,672.82. The Nasdaq Composite pulled back by 1.9% to close at 12,338.95. Earlier in the session, the Dow was up more than 100 points. All three averages also touched fresh intraday records.
Apple was among the worst-performing Dow components, falling more than 2%. Salesforce dropped 3.2%. The S&P 500 tech sector fell 1.9% to lead the index lower. Facebook declined 1.9% after the Federal Trade Commission, along with several states, filed lawsuits that could force the social media giant to divest Instagram and WhatsApp.
“The US fiscal stimulus process has turned somewhat acrimonious, but Congress has another 1.5 weeks to try and reach a compromise (as the budget deadline is about to get pushed” to Dec. 18, said Adam Crisafulli of Vital Knowledge.
MacDailyNews Take: Hopefully, the fiscal stimulus talks will gel as that will help many who are struggling as businesses are impacted by continuing COVID-19 shutdowns and restrictions. That, in turn, will help the economy, helping tech and other stocks, too.
More grease under Apple’s feet before the sprint to the year’s end finish line.
Fiscal stimulus??? The Dems will shut it down as they have in the past. Nothing more treasonous than a Dem politician
Losing in the Red Zone? party has nothing to do with investing in blue chip companies with great fundamentals. Long Apple a prosperous DEMO…..
Do you have any f’ing clue what you are drooling about?? My comment was about fiscal stimulus, not investing. Go back to 2nd grade and learn to read.
So now you want him to be an elite?
Dumb and A___
More Dem treason;
https://www.foxnews.com/politics/house-fails-to-reach-deal-on-coronavirus-but-is-debating-ceiling-fan-bill
More Dumb and A___
WTF are you drooling about??? Nevermind, nobody cares
AAPL drops a little more than 2% and, besides AMZN–other tech, notably less. An obvious crisis…secure the bunker.
Buying opportunity….
truth
TMac, as I wrote earlier…stop trying to take FT and GoeB’s place. Nobody wants to hear that crap anymore and you are too stupid to replace them anyway. Go home to mommy…..
Shut your mouth Buster
or what?
Sticks and stones
May break my bones
But Nick will
Never hurt me.
TMac is just a big mouth slob that is part and parcel of the kind of embarrassing fool that the Republicans will work hard to dissociate themselves from in the future. History will not be kind to Trumpists.