Dow drops over 250 points as tech stocks plunge

Thursday, 23. July 2020 19:52

Stocks on Wall Street extended losses on Thursday with the Dow Jones plunging over 250 points. Markets were pulled down by disappointing jobless claims data and corporate earnings from firms including Dow Inc, AT&T and American Airlines.

The Dow Jones slid 1.07% or 291 points at 1:54 pm ET. The technology sector led the losses as Apple dropped 3.90% on reports it is delaying the launch of its 5G smartphones and Microsoft lost 3.67% despite better-than-expected earnings.

The Nasdaq 100 dived 2.38% at 1:57 pm ET. with Citrix Systems plummeting 9.78%. Tesla tumbled 4.60% despite reporting upbeat results a day earlier.

The S&P 500 fell 1.04% at 1:58 pm ET.

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Breaking the News / NP