U.S. Stocks Sink on Tech Rout; Treasuries Advance: Markets Wrap
- Crude caps longest slump on record with 10th retreat
- Chipmakers, hardware producers lead technology shares lower
This article is for subscribers only.
U.S. stocks fell amid a fresh round of selling in technology shares sparked by weak earnings, while crude capped its longest losing streak ever on concern over a supply glut.
Large-cap tech names dragged the Nasdaq 100 to a loss of more than 1.5 percent and trimmed a weekly advance for the S&P 500. Chipmaker Skyworks plunged after results signaled a slowdown in smartphone demand. West Texas Intermediate crude capped a 10th straight loss, sending small-cap energy shares tumbling more than 2.5 percent. Walt Disney’s strong earnings minimized damage in the Dow Jones Industrial Average.