S&P 500 News: Amazon Leads Big Tech Stock Sell-Off, Wiping Out Broad Gains in Other Sectors
On the surface, Friday's relatively flat finish by the S&P 500 Index (SNPINDEX: ^GSPC) might make it seem like it was a calm day on Wall Street. The reality: It was another painfully volatile day in a volatile week for tech stocks, which fell sharply enough to wipe out gains in almost every other sector.
Amazon (NASDAQ: AMZN) shares fell almost 2%, leading big tech lower as almost every tech stock with a market cap above $200 billion closed lower to end the week. While tech was falling, every other sector except real estate gained in value, with industrials and materials sectors both up more than 1% to close out the week. Fertilizer company Mosaic, paper and packaging giant Avery Dennison, mining giant Freeport-McMoRan, and refiner Marathon Petroleum led their sectors higher, with all up 3% or more.
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Source Fool.com
