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ShiJun
2021-04-15

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S&P 500 falls from record as tech weakness offsets rally in bank shares, Nasdaq closes 1% lower

The S&P 500 slipped from record levels in volatile trading on Wednesday amid a sell-off in technolog

S&P 500 falls from record as tech weakness offsets rally in bank shares, Nasdaq closes 1% lower

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The Dow Jones Industrial Average gained just 53.62 points, or 0.2%, to 33,730.89. The 30-stock benchmark climbed more than 200 points at one point to touch an all-time high. The Nasdaq Composite fell 1% to 13,857.84.Coinbase’s widely watched direct listing on Wednesday opened at $381 on the Nasdaq and shot up as high as $429, but shares quickly rolled over and closed at $328.28. As Coinbase shares reversed lower, bitcoin fell 1.5% to around $61,930 from a record high of more than $63,800. Crypto investors were hailing the company’s stock market debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.Tesla, a holder of bitcoin and a speculative tech play, fell nearly 4%. Netflix and Facebook dropped more than 2% each, which Amazon, Microsoft and Apple all dipped at least 1%.Strong bank earnings helped support sentiment on Wednesday. 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S&P 500 falls from record as tech weakness offsets rally in bank shares, Nasdaq closes 1% lower

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