Despite the historic selloff in oil prices (International Business Machines Corp. (IBM) sank 6.1% in midday trading after the tech giant's first-quarter report out late Monday ( ) disappointed investors, Intel Corp. (INTC) slid 5.1%, Microsoft Corp. (MSFT) shed 4.4% and Cisco Systems Inc. (CSCO) dropped 4.3%. Apple Inc.'s stock fell 3.2%, but was the biggest drag on the Dow as its $9.23 price decline shaved about 63 points off the index, which was down 602 points, or 2.6%. Meanwhile, of the Dow's oil components, shares of Exxon Mobil Corp. (XOM) slipped 0.9% and Chevron Corp. (CVX) fell 2.3%.), it's the technology sector that's leading the way lower Tuesday, as the four worst performers within the Dow Jones Industrial Average are technology companies. Among ETFs tracking the S&P 500's 11 sectors, the SPDR Technology Select Sector ETF (XLK) is shedding 4.2%, with 70 of its 71 equity components trading lower, while the SPDR Energy Select Sector ETF (XLE) lost 2.0%. with 26 of 27 components declining. And the technology-heavy Nasdaq 100 slumped 4.1%, with all of its components losing ground. Among the Dow's biggest losers, shares of
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 21, 2020 11:42 ET (15:42 GMT)
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