Wall Street Plunges On Concerns About Pricey Oil, Inflation; Tech Stocks Down Over 2%
Fahad Shabbir (@FahadShabbir) Published October 05, 2021 | 12:20 AM
NEW YORK (UrduPoint News / Sputnik - 05th 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
PNCA hosts artist talk, workshop on paper cutting
Task Force on cards for operation against illegal housing schemes: DG RDA
Flags, panaflexes removed from roads, streets for beautification of city: Mayor ..
Emergent measures under way to control effects of climate change: governor
Muhammad Suhail appointed member search committee
KP Governor inaugurates blossom fiesta, funfair at Khyber Girls Medical College
Minister for Law and Justice Azam Nazeer Tarar urges sweeping operation against ..
KPRTS serves show cause notices to CCPO, DC
Officials of NDMA, PDMA briefs Engr Amir Muqam about recent rains, landslide imp ..
Bahawalnagar boosts wheat procurement: 22 centers open for business
DWE providing training to 0.3 mln workers in twin cities
KPTA delegation meets with Governor, seeks resolution for salary issues
More Stories From Business
-
Germany nudges up growth forecast, ailing economy at 'turning point'
30 minutes ago -
Jam Kamal leads efforts to enhance IT Capacity for trade monitoring
2 hours ago -
SECP pushes adoption of IFRS 17 by Insurance sector
3 hours ago -
PSX turns bullish, gains 692 more points
3 hours ago -
RTO Peshawar makes historic seizure of illegal cigarettes worth Rs 162.6 mln
3 hours ago -
LCCI for deferment of SROs hurting businesses
3 hours ago
-
Three schemes approved
3 hours ago -
PCJCCI keen to boost Peach industry in Swat
4 hours ago -
Rupee sheds 02 paisa against dollar
2 hours ago -
IPO to celebrate World Intellectual Property day on 26th April
4 hours ago -
Iranian president's visit to help ensure mutual prosperity: state minister
5 hours ago -
Soyabean, palm oil imports grew 53.07%, 28.55% in 09 months
5 hours ago