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Biden Move Wallops Private Prison Stocks

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Stocks ended lower on Wall Street Tuesday after spending most of the day in the red. The S&P 500 lost 0.15%, pulled down by losses in banks and industrial companies. Gains for some Big Tech companies… Money News Summaries.
(Newser) – Stocks ended lower on Wall Street Tuesday after spending most of the day in the red. The S&P 500 lost 0.15%, pulled down by losses in banks and industrial companies. Gains for some Big Tech companies like Amazon and Facebook helped keep the losses in check. Small-company stocks fell more than other parts of the market. Shares in GEO Group and CoreCivic, which operate prisons, slumped following news that the Biden administration will not be renewing federal government contracts with private prison operators, the AP reports.

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