Dow drops 300 pts pulled by Microsoft, Apple

Thursday, 20. February 2020 17:38

Stocks on Wall Street traded lower on Thursday with the Dow Jones sinking more than 300 index points. Tech giants such as Microsoft and Apple were among the losers of the session, slipping over 2% and more than 1%, respectively.

The coronavirus outbreak remained in investors' focus as China said that it killed over 2,100 people with nearly 75,000 cases confirmed. Meanwhile, Fed's Vice-Chairman Richard Clarida asserted that the bank intends to hold its interest rates for a while, despite trade uncertainties and virus-related woes. On the business front, Ultimate Software and Kronos Inc. are close to reaching a deal on a $22 billion-worth merger, according to the report.

The Dow went down by 0.92% at 11:43 am ET driven by Microsoft's fall while the Nasdaq 100 slid 1.50% at the same time with Tesla and Apple among the worst performers. The S&P 500 lost 0.91% with ViacomCBS plunging more than 16%.

The euro dropped 0.17% against the dollar, going for 1.07914 at 11:47 am ET.

Related Links: Apple Inc.Microsoft Corp.
Author:
Breaking the News / GA