S&P 500 Index opens modestly lower near 3,300 dragged by tech stocks

Wall Street's main indexes opened in the negative territory.
Major technology stocks are suffering heavy losses on Friday.

Eren Sengezer FXStreet

After posting impressive gains on Thursday, major equity indexes in the US started the last day of the week in the negative territory. As of writing, the S&P 500 was down 0.32% on the day at 3,300, the Dow Jones Industrial Average was losing 0.32% at 26,575 and the Nasdaq Composite was falling 0.63% at 11,115.

Among the 11 major S&P 500 sectors, the Technology Index is down 1.15% on a daily basis. Twitter Inc (TWTR: NYSE), Apple Inc (AAPL: NASDAQ) and Amazon.com Inc (AMZN: NASDAQ) shares are down 15%, 4.11% and 3%, respectively.

On the other hand, the Communication Services Index is gaining 1.22% boosted by strong gains witnessed in Google Alphabet shares.

S&P 500 chart (daily)

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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