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Wall Street retreats, profit on “tech”

The S&P 500 and the Nasdaq ended lower on Monday, led by the net decline at the end of the session of “tech” gloves like Amazon and Microsoft after their recent rally.

The S & P-500 lost 29.82 points, a decline of 0.94%, 3.155.22 points, after having briefly touched up a high since February 25.

The Nasdaq Composite, a strong technological component, fell 226.6 points (-2.13%) 10,390.84 points.

The Dow Jones ended up almost stable (+ 0.04% or 10.5 points) 26,085.8 points.

The deterioration of the health situation in the United States, where California announced new restrictive measures, has caused profits to be taken from the big technological names of the coast, Amazon, Microsoft, Nvidia and Facebook having lost each more than 2 %.

Another example of this profit taking, Tesla fell more than 3% after jumping 16% earlier in the year. The price of the manufacturer of electric cars has soared in the past two weeks as investors bet on the publication of a quarterly profit and a possible entry of the group within the S&P 500.

(Noel Randewich, Blandine Hnault for the French version)

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