May had failed to win a parliamentary majority on Britain's withdrawal from the European Union.Europe Politicsread more
Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
U.S. President Donald Trump on Thursday predicted a swift end to the ongoing trade war with China, although no high-level talks have been scheduled between the two countries.World Economyread more
President Donald Trump has threatened tariffs on another $300 billion worth of Chinese goods — but Chinese PC-maker Lenovo is prepared to shift its production if that happens,...Technologyread more
Indian Prime Minister Narendra Modi won a landslide re-election victory. That could see India taking a more assertive security stance.Asia Politicsread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute...Earningsread more
Chinese technology giant Huawei has enough inventory to sustain its smartphone and 5G networking equipment business for most of the rest of the year, according to brokerage...Technologyread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
The Nasdaq Composite climbed out of correction territory late Tuesday, as major tech stocks recovered from an earlier rout.
Earlier Tuesday, the index tanked as much as 2.8 percent to trade 10.7 percent below its all-time intraday high of $8,133.30, hit on Aug. 30. At one point, the composite was down 8.3 percent month-to-date, on pace for its worst month since November 2008 when it shed 10.8 percent.
The Nasdaq recovered to close just 0.4 percent down.
Major tech companies had accounted for nine of the top 10 stocks weighing negatively on the Nasdaq at its lowest point during the session — yielding only for Pepsi to slip in among the biggest losers.
At 11 a.m. in New York, Apple and Facebook were each down 2 percent, Amazon and Microsoft were each down 3.5 percent, and Google parent Alphabet was down 2.2 percent. By market close all of those stocks had pared their losses.
Jeremy Klein, chief market strategist at FBN Securities, noted the tech sector's been out of favor for several weeks, as managers take profits ahead of year's end and brace for another tech earnings season.
Amazon, Intel, Alphabet, Twitter and Snap all report quarterly earnings later this week, followed by Facebook and Apple next week. Last quarter saw major market moves for tech companies, as quarterly results pretty consistently disappointed.
But compared with industrials — which was dragged lower Tuesday by Caterpillar and 3M earnings — Klein said, the tech stocks weren't the problem.
"[There's] carnage pretty much everywhere," Klein said. "I think tech is just caught up in it today."