Wall Street Gives Up Gains on Reignited Tech Selloff
Another day of selling pressure in information technology stocks sent Wall Street into the red through Thursday's session as markets handed back nearly all of the gains made a day earlier.
The Dow Jones Industrial Average saw nearly all of its components weaken, with only the financial names gaining as investors moved from the tech sector into banks amid expectations that another rate hike is in the cards for 2017. S&P Global Ratings on Thursday predicted one more increase this year and three in 2018.
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