US market close: Wall Street falls red as tech plummets
By Joseph Toppe
20:47, 13 January 2022
Content
After rising more than 200 points halfway through the session, the Dow fell into decline during afternoon trading to join the other major US gauges in red territory.
During Thursday’s session, the Dow Jones Industrial Average dropped 0.48%, or 175 points, the S&P 500 dipped 1.42%, while the Nasdaq Composite went 2.51% lower.
More US jobless claims
The latest data compiled by the US Department of Labor shows seasonally adjusted initial claims for the week ending 8 January hit 230,000, a jump of 23,000 from the previous week's unrevised level of 207,000.
The moving average over a four-week period was 210,750, adding 6,250 from the previous week’s unrevised average of 204,500.
What is your sentiment on US30?
Winners & losers: Midweek tech skid
Shares of Advanced Micro Devices (AMD) decreased 3.44%, while Nvidia went down 5.09% and Intel slipped 1.44%.
In other tech stock, shares of Apple went down 1.9%, as Microsoft went 4.23% lower and Amazon retreated 2.42%.
On the social media front, shares of Meta Platforms are down 2.03%, Twitter is 3.85% in the red, while Snap plummeted 10.18% and Pinterest is 4.24% lower.
With several banks reporting their earnings tomorrow, Wells Fargo is 0.71% lower, while JPMorgan is off 0.21% and Goldman Sachs clings to a 0.56% gain.
Oil: Crude ends down
Oil futures went lower on Thursday with West Texas Intermediate crude for February delivery sinking 52 cents, or 0.6%, to settle at $82.12 a barrel on the New York Mercantile Exchange, while March Brent crude, the global benchmark, lost 20 cents, or 0.2%, at $84.47 a barrel on ICE Futures Europe
In energy stock, shares of Hess are 1.06% off, while Chevron is 0.39% lower.
Gold: First loss in five
Gold futures went down as February gold fell $5.90, or 0.3%, to settle at $1,821.40 an ounce, after climbing 0.5% in the previous session.
Forex: US buck slips
On Thursday, one US dollar equals $1.25 of the Canadian dollar and $0.87 of the euro.
The yield on the benchmark 10-year U.S. Treasury note improved to 1.727% Thursday from 1.724% Wednesday.
