Wall Street swung back down on Tuesday, and its former superstars once again led the way. The S&P 500 fell 60.46 points, or 1.1%, to 5,614.66. The Dow Jones Industrial.
Wall Street swung back down on Tuesday, and its former superstars once again led the way.
Alphabet sank 2.2% after the owner of Google said it would buy cybersecurity firm Wiz for $32 billion. It would be the company’s most expensive purchase in its 26-year history, and it could boost the tech giant’s in-house cloud computing amid burgeoning artificial-intelligence growth.
The drop for Big Tech continues a trend that’s taken hold in the market’s recent sell-off: Stocks whose momentum had earlier seemed unstoppable have since dropped sharply following criticism that they had simply grown too expensive.
