Wall Street Plunges On Concerns About Pricey Oil, Inflation; Tech Stocks Down Over 2%
Mohammad Ali (@ChaudhryMAli88) Published October 04, 2021 | 11:50 PM
NEW YORK (UrduPoint News / Sputnik - 04th October, 2021) Stocks on Wall Street plunged on Monday on fears about escalating oil prices and inflation, with the Big Tech sector taking the hardest hit, dropping more than 2% amid global outages from social media giant Facebook.
By 2:35 PM ET (1835), Wall Street's broad-based Dow Jones Industrial Average, comprising mostly industrial stocks, was down 1.1%. The blue-chip S&P 500, which groups the top 500 stocks on the NYSE, was down 1.6%.
The Nasdaq Composite Index, led by Big Tech Names such as Facebook, Amazon, Apple, Netflix and Google, tumbled 2.4%. Facebook itself was down almost 6% after a glitch across the social media giant's platforms, including WhatsApp and Instagram, affecting access for untold numbers of people.
Related Topics
Recent Stories
ICUBE-Q's initial images from space a historic day: Ambassador Hashmi
PMD forecasts rain-windstorm/thunderstorm for various parts of country
PM to host hockey team for brilliant performance in Azlan Shah tournament; Rana ..
SBP provides practicable foundation for elimination of Riba: chief manager
FCCI demands incentive package for poultry sector
AJK President condoles over death of veteran UK-based journalist Ali Noorani
Third week of evidence wraps at Trump's criminal trial
Madinah : 3,485 Pakistani Hujjaj arrive in seamless flight operation
Rupee gains 08 paisa against US dollar
Teenager drowns in canal
Pakistan envoy urges Hajj pilgrims to demonstrate discipline during stay in Saud ..
RTO teams visit city, cantt areas to encourage retailers to register for ‘Taji ..
More Stories From Business
-
SBP provides practicable foundation for elimination of Riba: chief manager
55 seconds ago -
Rupee gains 08 paisa against US dollar
17 minutes ago -
Pakistan, Korea sign Aide-Mémoire for Enhanced Development Cooperation 2024-2026
21 minutes ago -
European stock markets hit record highs on rate cut hopes
21 minutes ago -
Meezan Bank, Roche Pakistan join forces to combat breast cancer
1 hour ago -
Salim calls for utilizing Turkish expertise in PIA's privatization
2 hours ago
-
PSX stays bullish, gains 427 more points
2 hours ago -
Pakistan committed to promote green investment: Aurangzeb
2 hours ago -
Short-term inflation eases by 1.39 percent
3 hours ago -
Gold rates increase by Rs.4,600 to Rs 243,800 per tola
4 hours ago -
European stock markets hit record highs on rate cut hopes
2 hours ago -
Foreign Exchange (Forex) Open Market Rate in Pakistan 10 May 2024
2 hours ago