Stocks post first loss of the week as tech companies drop
Losses among technology and consumer products companies weighed on U.S. stocks Thursday, snapping a three-day winning streak for the market.
Banks bucked the trend, rising along with bond yields. Energy companies also eked out a slight gain, despite a late-afternoon downturn in oil prices. The broad market slide came as investors pored over the latest corporate quarterly results.
"The earnings were a little bit disappointing today and we're just really seeing, especially within the tech sector, follow-through on some of the big names that have reported disappointing numbers in some key spaces," said Lindsey Bell, an investment strategist at CFRA Research.
The S&P 500 index fell 15.51 points, or 0.6 percent, to 2,693.13.