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Tech shares slide again, bringing US stock market lower; GameStop slumps

NEW YORK, N.Y. - U.S. stocks are moving lower in midday trading as technology shares slump again.

Video game store chain GameStop sank 7 per cent after reporting lower sales and income than investors were expecting. GameStop will also close 2 per cent of its stores.

Citigroup fell 6 per cent after the Federal Reserve denied the bank's request to raise its dividend and buy back more stock.

The Standard & Poor's 500 index fell seven points, or 0.4 per cent, to 1,844 as of midday Thursday. The index turned negative for the year.

The Dow Jones industrial average fell 37 points, or 0.2 per cent, to 16,231. The tech-heavy Nasdaq composite lost 32 points, or 0.8 per cent, to 4,140.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.69 per cent.

The Canadian Press


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S&P TSX14534.84-12.87
S&P CDNX825.192.91
DJIA16635.2320.42
Nasdaq4430.177+10.698
S&P 5001946.00+4.72
CDN Dollar0.8872-0.0037
Gold1245.90-5.7999
Oil82.51+0.55
Lumber329.70+0.10
Natural Gas3.681-0.03

 
Okanagan Companies
Pacific Safety0.11+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.16-0.01
Cantex0.055-0.025
Anavex Life Sciences0.192+0.001
Metalex Ventures0.05+0.005
Russel Metals33.15+0.06
Copper Mountain Mining2.13-0.04
Colorado Resources0.150.00
ReliaBrand Inc0.012+0.0009
Sunrise Resources Ltd0.060.00
Mission Ready Services0.45-0.01

 



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