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HP drags down Dow Jones industrial average

HP drags down Dow Jones industrial average

Tech giant Hewlett Packard is dragging the Dow Jones industrial average lower in midday trading.
Hewlett Packard Co., the world's largest technology company by revenue, lowered its earnings outlook for the rest of the year. The company expects weaker sales of personal computers. HP's stock fell more than 9 percent, more than any other company in the Dow average.
A batch of economic reports also raised concerns about the economy's strength. U.S. factories produced fewer goods for the first time in 10 months in April, and construction of new homes plunged.
The Dow is down 154 points, or 1.2 percent, to 12,393 in midday trading. The S&P 500 index is down 10 points to 1,319. The Nasdaq composite is down 22 points, or 0.8 percent, to 2,760.


Updated : 2020-12-02 17:58 GMT+08:00