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Dow pares losses, Nasdaq goes positive as tech shares rebound from Wednesday's rout
Friday, 12 October 2018 00:14 WIB | MARKET UPDATE |DOW JONES Standard & Poor's 500Saham AS

Stocks seesawed in volatile trading Thursday, a day after the major indexes suffered steep losses sparked by higher rates and a sell-off in tech shares.

The Dow Jones Industrial Average traded 104 points lower, bringing its two-day losses to more than 900 points. The S&P 500 dropped 0.5 percent and was on pace for a six-day losing streak. The broad index also broke below its 200-day moving average for the first time since May. The Nasdaq Composite rose 0.1 percent.

The major indexes pared losses in late-morning trading as tech shares rebounded from their worst day in seven years. Facebook rose more than 1 percent while Alphabet gained 0.8 percent. Apple, meanwhile, gained 0.2 percent.

Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more than 3 percent. It was also the 28th time since 2011 the S&P 500 posted a more than 2 percent decline, according to data from Birinyi Associates.

CNBC

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