Wall St ends lower, pulled down by tech stocks

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Discovery down after deal to merge with AT&T's media unit

* Indexes down: Dow 0.16%, S&P 0.25%, Nasdaq 0.38% (Updates with details after the close)

By Echo Wang

May 17 (Reuters) - Wall Street ended lower on Monday, weighed down by tech shares as signs of growing inflation worried investors about the potential for tighter monetary policy.

Of the 11 major S&P sectors that declined, technology .SPLRCT , utilities .SPLRCU and communication services .SPLRCL were the biggest losers, each down between 0.7% and 0.9%.

"What is causing the decline, no surprise to anybody, is the worry about inflation and interest rates," said Sam Stovall, chief investment strategist at CFRA Research in New York.

"As a result that's causing the growth group, in particular technology and consumer discretionary stocks, to experience weakness, while some of the more value-oriented groups are holding up a bit better."

The S&P 500 scored its biggest one-day jump in more than a month on Friday as investors picked up beaten-down stocks following a pullback earlier in the week on worries about inflation and a sooner-than-expected tightening by the U.S. Federal Reserve.

The Dow Jones Industrial Average .DJI fell 56.12 points, or 0.16%, to 34,326.01; the S&P 500 .SPX lost 10.42 points, or 0.25%, at 4,163.43; and the Nasdaq Composite .IXIC dropped 50.93 points, or 0.38%, to 13,379.05.

Earnings this week will be scrutinized for clues on whether rising prices had any impact on consumer demand and if retailers can sustain their strong earnings momentum.

Cryptocurrency-related stocks like Marathon Digital MARA.O , Riot Blockchain RIOT.O and Coinbase COIN.O fell between 3% and 7% as bitcoin swung in volatile trading after Tesla Inc TSLA.O boss Elon Musk tweeted about the carmaker's bitcoin holdings.

With the earnings season at its tail end, overall earnings for S&P 500 companies are expected to have climbed 50.6% from a year ago, according to Refinitiv IBES, the strongest pace in 11 years.

AT&T Inc T.N , owner of HBO and Warner Bros studios, and Discovery Inc DISCA.O , home to lifestyle TV networks such as HGTV and TLC, said on Monday they will combine their content assets to create a standalone global entertainment and media business. AT&T shares declined 2.69%, while Discovery fell about 5.04%.

Volume on U.S. exchanges was 9.8 billion shares, compared with the 10.5 billion average over the last 20 trading days.

On the Nasdaq 100 the largest gainer was Trip.Com Group Ltd TCOM.OQ , which rose 3.8%, while the largest decliner was Comcast Corp CMCSA.OQ , down 5.5%.

Advancing issues outnumbered decliners on the NYSE by a 1.13-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.

The S&P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 110 new highs and 63 new lows.
Reporting by Echo Wang in New York; Additional reporting by Medha Singh and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel and Richard Chang

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明