Steep slide in tech companies pulls US stocks lower
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June 30, 2017
A steep slide in technology companies pulled U.S. stocks lower Thursday, erasing gains from the previous day.
Investors also sold big-dividend stocks as bond yields rose. Banks and energy stocks bucked the broader market decline. Crude oil prices closed higher for the sixth straight day.
The shift out of the technology sector came as investors bet central bankers may be ready to lift rates. That spurred many traders to move out of growth sectors, like technology, and into value stocks, such as banks, said Erik Davidson, chief investment officer at Wells Fargo Private Bank.
"It's been a good da...
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