Investing.com - U.S. stocks carried last week's selloff into
Monday as investors continued to ditch technology shares on
sentiments prices rose too high over the past year's bull
At the close of U.S. trading, the Dow 30 ended the session down
1.02%, the S&P 500 fell 1.08%, while the Nasdaq fell 1.16%.
Investors continued to ditch technology stocks for a third
consecutive session and jumped to the sidelines to await
first-quarter earnings, which brought down broader stock
Weak employment figures released on Friday bruised stocks as
The Department of Labor reported Friday that the U.S. economy
added 192,000 jobs in March, missing expectations for a 200,000
increase. February's figure was revised up to 197,000 from 175,000,
while January's figure rose to 144,000 from 129,000.
The private sector added 192,000 jobs last month, below
expectations for a 195,000 rise, while February's figure was
revised up to 188,000 jobs added from a previously estimated
The report also showed that the U.S. unemployment rate remained
unchanged at 6.7% last month compared to expectations for a 6.6%
While the numbers still depict an economy that is improving, the
figures were not strong enough to steer investors' attention away
from tech stocks.
Still, some tech stocks closed in positive territory after
bottom fishers jumped in and snapped up nicely priced shares late
in the trading session.
Leading Dow Jones Industrial Average performers included
International Business Machines (NYSE:IBM), up 1.42%, Intel
Corporation (NASDAQ:INTC), up 1.24%, and Coca-Cola Enterprises Inc
(NYSE:CCE), up 1.06%.
The Dow Jones Industrial Average's worst performers included
Pfizer Inc (NYSE:PFE), down 2.97%, Goldman Sachs Group Inc
(NYSE:GS), down 2.89%, and American Express Company (NYSE:AXP),
European indices, meanwhile, finished lower.
After the close of European trade, the DJ Euro Stoxx 50 fell
1.34%, France's CAC 40 fell 1.08%, while Germany's DAX fell 1.91%.
Meanwhile, in the U.K. the FTSE 100 fell 1.09%.
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