WORLD US stocks open lower as tech shares decline

WORLD

US stocks open lower as tech shares decline

Xinhua

00:08, November 13, 2018

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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 9, 2018. (File photo: VCG)

NEW YORK, Nov. 12 (Xinhua) -- US stocks opened lower on Monday as a decline in tech shares weighed on the broader market.

Shortly after the opening bell, the Dow Jones Industrial Average dropped 105.43 points, or 0.41 percent, to 25,883.87. The S&P 500 was down 14.34 points, or 0.52 percent, at 2,766.67. The Nasdaq Composite Index fell 73.63 points, or 0.99 percent, to 7,333.27.

Major US tech shares traded lower in early trading. Apple stock decreased about 4 percent. Shares of US chipmakers NVIDIA and Micron Technology pulled back 5.71 percent and 3.45 percent, respectively.

The technology sector was down about 2 percent, leading the laggards in the 11 primary S&P 500 sectors.

US stocks advanced in the week ending Nov. 9 as investors digested Federal Reserve's latest monetary policy as well as a batch of key economic data.

For the past week, the Dow registered an increase of 2.8 percent, the S&P 500 returned 2.1 percent over the past five sessions, while the Nasdaq eked out a 0.7 percent gain.

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