Tuesday, April 28th20.1°C
25936

Tech stocks take another hit, sending Nasdaq to a 3rd straight losing week; JPMorgan slides

NEW YORK, N.Y. - Technology stocks are dropping for a second day in a row as investors flee highflying Internet and biotechnology companies.

The Nasdaq composite closed out its third losing week in a row.

The Nasdaq lost 54 points, or 1.3 per cent, to end at 3,999 Friday. It was only the second time this year the index has closed below 4,000. It's down 8 per cent from the high it reached in early March.

The Standard & Poor's 500 fell 17 points, or 1 per cent, to 1,815. The Dow Jones industrial average fell 143 points, or 0.9 per cent, to 16,026.

JPMorgan Chase fell 4 per cent after reporting weaker earnings. Other big banks also fell, including Bank of America.

Bond prices rose. The yield on the benchmark 10-year Treasury note fell to 2.62 per cent.

The Canadian Press


Read more Business News

24910


Recent Trending




Today's Market
S&P TSX15336.55-7.53
S&P CDNX695.67+5.57
DJIA18104.18+66.21
Nasdaq5052.77-7.48
S&P 5002113.74+4.82
CDN Dollar0.8315+0.0044
Gold1205.30+2.00
Oil56.95-0.04
Lumber250.70-5.50
Natural Gas2.521+0.031

 
Okanagan Companies
Pacific Safety0.115+0.035
Knighthawk0.010.00
QHR Technologies Inc1.44+0.04
Cantex0.03-0.01
Anavex Life Sciences0.3645-0.0305
Metalex Ventures0.095+0.000
Russel Metals27.06+0.01
Copper Mountain Mining1.21-0.04
Colorado Resources0.095-0.005
ReliaBrand Inc0.004-0.001
Sunrise Resources Ltd0.04+0.00
Mission Ready Services0.19-0.01
Decisive Dividend Corporation1.90+0.10

 



25608

FEATURED Property
2236443962 Ryder Drive
6 bedrooms 7 baths
$1,599,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Buy versus rent

Consider the top five reasons to buy versus rent: #5 Experience Freedom: Home ownership will free you from the ties that bind you to a landlord...no longer will you be dependent on someone else&rsq...


What's your score?

There was a time when we would sit down with nothing more than a sheet of paper and a sharp pencil to do the math. Totalling our expenses and subtracting our revenue, the amount left over was the answ...


Do you dare to dream?

Photo: Thinkstock.comI have never been able to understand why some people can only see as far ahead as the end of the current day. Instead of aiming for long term goals, they just wallow in their ever...

_



26069

25289


Member of BC Press Council


25346