Tech Stocks tumble down overall market
Los Angeles — Wall Street stocks ended Tuesday trading lower as the major averages all posted losses.
Tech stocks drove the decline as stocks fell following a disappointing earnings report from enterprise software company Oracle.
Oracle saw a 13% drop in shares, leading to pessimism for the tech sector. Other tech stocks also came under pressure with Apple falling 1.71% and Tesla dropping 2.23% The tech-heavy Nasdaq Composite slid more than 1% to 13,773.61.
The S&P 500 dropped 0.57% to 4,461.90, while the Dow Jones slipped 0.05% to 34,645.99.
Investors are now shifting their focus toward Wednesday’s CPI report for more insight on persistent inflation.
