Day Traders Diary
Stocks fell for a second day on Wednesday, pressured by declines in tech and bank shares, pausing a sharp rally to start off June. The Dow Jones Industrial Average dipped 43 points to 26,004 while the S&P 500 closed 0.2% lower and the Nasdaq Composite sliding 0.4%. The S&P 500 utilities rose 1.3%, health care rose 0.5% and real estate sector closed modestly higher.
Tech shares were dragged down by chip stocks. The analyst at Evercore downgraded Lam Research and the sector saying any recovery in the space will likely be pushed back to the second half of 2020. The Semiconductor sector dropped 2.2% while Lam Research lost 5.3%.
Facebook shares dropped 1.7% after a Wall Street Journal uncovered emails linking CEO Mark Zuckerberg to the company's privacy practices.
All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.