Stocks Closed Sharply Lower, Tech and Bio Led Losses

U.S. stocks closed sharply lower on Tuesday, with technology and biotechnology stocks leading the losses. The Dow Jones Industrial Average dropped 142.33 points, or 0.79%, to 17,928.07. The S&P 500 lost 25.03 points, or 1.18%, to 2,089.46. The Nasdaq Composite shed 77.60 points, or 1.55%, to 4,939.33.

Cloud computing company Salesforce.com may have found a big tech name interested in an acquisition. According to Bloomberg, Microsoft is considering a bid for Salesforce.com, one week following a report the company was fielding bids for a potential.

Internet video service Netflix is telling the Federal Communication that it should reject AT&T’s purchase of satellite TV company DirecTV unless some changes are made.

Video game publisher Electronic Arts Inc (EA.O), known for titles such as “FIFA” and “Madden NFL”, posted a 5.5 percent rise in quarterly revenue. EA’s net income rose to $395 million, or $1.19 per share, for the fourth quarter ended March 31, from $367 million, or $1.15 per share, a year earlier.