Tech Wrecks S&P 500: Most Stocks Gain Today, but Facebook, Other Tech Giants Crash the Party
The S&P 500 Index (SNPINDEX: ^GSPC) fell 0.15% on Thursday, the third straight day stocks closed lower. This comes on the heels of a solid two-week period that saw the index gain almost 5% ahead of earnings season.
This week, a steady diet of mixed results and uncertain outlooks about the economy has investors reversing course. Executives have been very muted when talking about the near-term outlook; rising cases of the coronavirus, along with congressional gridlock over additional economic stimulus, have investors on the fence.
Shares of Vertex Pharmaceuticals (NASDAQ: VRTX) fell sharply today, losing nearly 20% after the company reportedly pulled the plug on a drug in clinical trials. The stock of United Airlines (NYSE: UAA) fell 4% after the carrier announced a brutal third quarter.
Source Fool.com
