U.S. Stocks Pare Monthly Gain Amid Selloff in Tech, Small-Caps
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A selloff in technology and small-cap shares sent the Russell 2000 Index toward its worst week since October and pared a monthly gain for the Standard & Poor’s 500 Index.
Apple Inc. lost 2.7 percent after reports it found a defect in its new watch. Yelp Inc. plunged 23 percent as its earnings and outlook disappointed investors, and Google Inc. fell 2.3 percent. The Nasdaq Biotechnology Index dropped 3.1 percent. Energy companies pared their biggest monthly gain in more than a year. LinkedIn Corp. dropped 23 percent in late trading as its second-quarter forecast missed estimates.