The major averages fell on Monday, dragged down by overall weakness in the technology sector.
U.S. stock futures were flat in overnight trading on Monday as investors prepare for the next batch of corporate earnings. Dow futures rose 35 points. S&P 500 futures gained 0.04% and Nasdaq 100 futures were flat. The major averages fell on Monday, dragged down by overall weakness in the technology sector. The Dow Jones Industrial Average lost more than 120 points, dragged down by a more than 1.5% drop in Intel’s stock. The S&P 500 dropped more than 0.5%. The Nasdaq Composite was the relative underperformer, dipping nearly 1% as Facebook, Amazon and Microsoft all closed lower. Tesla dipped more than 3% as bitcoin — which makes up some of Tesla’s balance sheet— tanked over the weekend after hitting an all-time high of $64,841 Wednesday morning, according to data from Coin Metrics.
