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Disappointing tech forecasts drag stocks lower

Disappointing tech forecasts drag stocks lower

The U.S. stock market has resumed its slide as disappointing forecasts from technology companies bring new concerns about the economy.
A weaker outlook from technology maker Qualcomm Inc. has dragged the Nasdaq composite index lower Thursday. Drops in Motorola Inc. and Apple Inc. also hurt tech stocks.
The market also fell in response to a report from Standard & Poor's that said it no longer considers Britain's banking system among the "most stable and low-risk."
The Dow Jones industrial average is down 116 at 10,120. The Standard & Poor's 500 index is down 13 at 1,085. The Nasdaq is down 42 at 2,179.
Three stocks fell for every one that rose on the New York Stock Exchange. Volume was 1.1 billion shares, compared with 1.3 billion Wednesday.


Updated : 2021-08-06 07:25 GMT+08:00