US STOCKS-Wall St sinks more than 1% as tech stocks resume slide

Apple Inc and Amazon.com Inc were the biggest drags on the S&P 500 and Nasdaq, which entered correction territory this month. “This has been an amazing recovery represented by a few good tech names,” from the March market lows, Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. The S&P 500 financials index fell 1.4%, a day after the Federal Reserve pledged to keep interest rates low for a prolonged period to lift the world’s biggest economy out of a pandemic-induced recession.


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