Stocks Ended Sharply Lower as Tech Selloff Resumed

U.S. stocks ended sharply lower on Thursday, as the technology sector resumed its downward trend, overshadowing positive news in the financial sector. The Dow Jones Industrial Average dropped 167.58 points, or 0.78%, to 21,287.03. The S&P 500 lost 20.99 points, or 0.86%, to 2,419.70. The Nasdaq Composite sank 90.06 points, or 1.44%, to 6144.35.

Crude-oil prices tallied a sixth-straight gain Thursday, a day after U.S. data revealed a sizable weekly decline in domestic crude production. August West Texas Intermediate crude added 19 cents, or 0.4%, to settle at $44.93 a barrel. Brent oil for August delivery rose 11 cents, or 0.2%, to $47.42 a barrel.

Blue Apron Holdings Inc’s (APRN.N) shares were up about 1 percent in their market debut on Thursday following the meal-kit delivery company’s watered down IPO in the shadow of Amazon.com’s (AMZN.O) deal to buy Whole Foods Market WFM.N.

As online shopping claims ever more casualties, Staples, a mainstay of office supplies, has agreed to sell itself to a private equity firm. Sycamore Partners — a private equity firm that specializes in retailers and already owns the likes of Talbots, the Limited and Hot Topic — said Wednesday that it would acquire Staples for $6.9 billion, citing its “iconic brand.”