Stock market today: Wall Street slips as technology stocks drag on the market
Stocks slipped as Wall Street closes out a holiday-shortened week
By DAMIAN J. TROISE
Published - Dec 27, 2024, 02:02 PM ET
Last Updated - Dec 27, 2024, 02:02 PM EST
NEW YORK (AP) — Technology stocks are dragging down the market Friday as Wall Street closes out a holiday-shortened week.
The S&P 500 fell 1.3%, with more than 90% of stocks in the benchmark index losing ground. The benchmark index was managing to hold onto a modest gain for the week.
The Dow Jones Industrial Average fell 418 points, or 1%, to 42,878 as of 1:43 p.m. Eastern time. The Nasdaq composite fell 1.8%.
Technology stocks were the biggest weight on the market Friday. Semiconductor giant Nvidia slumped 2.7%. Its enormous valuation gives it an outsize influence on indexes. Other Big Tech stocks losing ground included Microsoft, with a 2% decline.
