Markets Right Now: Tech slide weighs on US stocks
NEW YORK (AP) – The latest on developments in financial markets (all times local):
A slide in technology companies weighed on U.S. stocks, adding to the market’s losses from a day earlier.
Twitter plunged 17.6 percent Friday after the social media network said its monthly users declined in the second quarter.
The decline in technology stocks outweighed gains in banks, retailers and restaurant chains.
Smaller-company stocks fell more than the rest of the market.
Amazon rose 1.8 percent after the online retailer reported its biggest-ever profit as its advertising and cloud computing businesses kept growing.
The S&P; 500 index fell 8 points, or 0.3 percent, to 2,827.
The Dow Jones Industrial Average lost 12 points to 25,513. The Nasdaq composite fell 66 points, or 0.9 percent, to 7,785.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.96 percent.