The tech sector today’s loser on Wall Street

The tech sector today’s loser on Wall Street

The New York Stock Exchange has closed for the day. Archive image. – Photo: Seth Wenig/AP/TT

The tech sector was among the day’s losers as the New York Stock Exchange began a new trading week. Nasdaq’s composite index retreated 1.2 percent as a consequence of renewed concerns about further interest rate increases from the US Federal Reserve.

At the company level, a sharp price drop was noticed above all for the electric car manufacturer Tesla, which plummeted 6.1 percent after the major bank Goldman Sachs downgraded the stock to neutral.

The decline occurred at the same time as the Dow Jones industrial index closed just below zero and the broad S&P 500 in turn was down 0.4 percent.

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