S&P 500 Snaps Three-Day Win Streak, Apple Drags Nasdaq to Losing Session
The S&P 500 slipped Thursday, ending a three-day winning streak, as big tech shares pulled back.
The broad market index inched down 0.2%. The tech-heavy Nasdaq Composite slipped about 0.9%. The Dow Jones Industrial Average slipped 68 points, or nearly 0.2%.
Apple shares were down 4%, posting their worst day since Aug. 5. Tesla dropped more than 3%. Nvidia slid about 2%, and Alphabet lost around 1%.
The major averages gave up gains from earlier in the day, which came on the back of strong corporate earnings. Morgan Stanley beat earnings expectations, sending the stock up 4%. Bank of America also exceeded bottom-line estimates, but the stock slipped about 1%. The results come a day after other financial peers such as JPMorgan Chase and Goldman Sachs also beat fourth-quarter estimates.
Source : CNBC