Feb. 3 at 9:44 PM
The S&P 500
pulled back as investors dumped technology stocks and moved into shares more broadly linked to improvements in the economy.
The broad market index fell 0.84% and closed at 6,917.81. The Dow Jones Industrial Average
dipped 166.67 points, or 0.34%, to end at 49,240.99. Earlier, the 30-stock index rose as much as 0.5% to touch 49,653.13, a new record. The Nasdaq Composite
shed 1.43%, settling at 23,255.19.
Most tech shares were in the red, including most of the "Magnificent Seven" names that have reported earnings so far — Microsoft
and Meta Platforms
were both down more than 2%, while Apple
was marginally lower. Nvidia
also slumped, with the artificial intelligence bellwether's nearly 3% drop adding to its losses for the year. Meanwhile, software stocks continued their 2026 tumble, with shares of ServiceNow
and Salesforce
falling close to 7% each.
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