October 19, 2021

Wall Street slips on tech losses, tax uncertainty weighs

A street sign for Wall Street is seen outside of the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 28, 2021. REUTERS/Andrew Kelly/File Photo

  • Nasdaq leads losses as technology majors sink
  • S&P 500 trades close to 50-day moving average
  • Triple options expiry likely to increase volatility
  • Indexes set for weekly losses
  • Indexes down: Dow 0.49%, S&P 0.71%, Nasdaq 0.96%

Sept 17 (Reuters) – U.S. stock indexes slipped on Friday led by major technology firms, while uncertainty over higher corporate taxes and an upcoming Federal Reserve meeting also weighed on sentiment.

The Nasdaq (.IXIC) was the worst performer among the main U.S. indexes and was set for its worst day since late July as a batch of strong economic readings encouraged investors to pivot into economically sensitive sectors and out of tech this week.

“(It was) a volatile week and a return to value outperformance as…

Read full article here: www.reuters.com