Stocks Ended Lower, as Tech Shares Tumbled

U.S. stocks ended lower on Monday, led by the tech-heavy Nasdaq, as investors grappled with the prospect of increased regulatory scrutiny over U.S. tech giants. The Dow Jones Industrial Average picked up 4.74 points, or 0.02%, to 24,819.78. The S&P 500 fell 7.61 points, or 0.28%, to 2,744.45. The Nasdaq Composite tumbled 120.13 points, or 1.61%, to 7,333.02.

Oil futures finished lower on Monday on heightened concerns for the global economy and tariff tensions that could both potentially hurt demand for oil. West Texas Intermediate crude for July delivery lost 25 cents, or 0.5%, to settle at $53.25 a barrel. August Brent lost 71 cents, or 1.2%, to finish Monday at $61.28 a barrel.

A federal government crackdown is reportedly targeting Big Tech, leading to severe punishment Monday on Wall Street. Shares of Alphabet Inc., Amazon.com Inc., Facebook Inc., and Apple Inc. were slammed Monday after a series of reports that have rolled out since Friday afternoon, claiming that those companies face regulatory scrutiny from the Trump administration.

About the Author

has written 12668 stories on this site.

Copyright © 2012 Nine Stocks