Dow sinks over 200 pts as tech stocks struggle

Friday, 18. September 2020 19:16

Losses on Wall Street intensified later during the session on Friday, with the Dow Jones dropping over 200 points.

The lack of consensus on the next coronavirus economic package dampened sentiment, while investors also monitored developments regarding TikTok's operations in the United States. Earlier, the Commerce Department said it would ban downloads of TikTok and WeChat on Sunday.

The Dow Jones fell 218 points at 1:17 pm ET. At the same time, the S&P 500 dropped 1.26%, while the tech-heavy Nasdaq 100 plunged 2.09% or 230 points. Apple led the losses, losing over 3%, while other tech stocks followed suit and traded lower, including Microsoft, Amazon, and Facebook.

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