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Saturday, June 25, 2022

Dow ekes out gain Tuesday, but Nasdaq leads losses tied to tech selloff

Major U.S. stock indexes closed mixed Tuesday in choppy trade punctuated by another sharp selloff in the internet sector. The Dow Jones Industrial Average
DJIA,
+0.15%

swung to a slight gain late in the session, adding about 50 points, or 0.2%, to end near 31,931. The main action resided in the tech-heavy Nasdaq Composite Index
COMP,
-2.35%
,
which shed 2.4%, while the S&P 500 index
SPX,
-0.81%

closed down 0.8%, failing to add to Monday’s bounce for the large-cap index. An earnings warning from Snapchat parent Snap
SNAP,
-43.08%

was pegged as a key catalyst for losses in internet stocks, which swept up other social-media companies, including Facebook parent Meta Platforms Inc.
FB,
-7.62%
,
Pinterest Inc.
PINS,
-23.64%
,
Google parent Alphabet
GOOG,
-5.14%

and Twitter Inc.
TWTR,
-5.55%
.

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