US close: Tech stocks lead another wide slide

The Dow Jones Industrial Average lost 0.78% to close at 21,287.03, the S&P 500 was off 0.86% at 2,419.70, and the tech-heavy Nasdaq 100 tumbled 1.74% to 5,653.02.

On the Dow, high-tech stocks such as 3M, Apple and Boeing led the losses, while the information technology sector slid 1.8% on the S&P 500.

Computing stocks, including Amazon, Apple, Google parent Alphabet, Facebook and Netflix were all down more than 1%, with hardware makers also losing out, as AMD and Nvidia were down 4.8% and 3.3% respectively.

Technology had been the best performing sector so far in 2017, improving more than 15% in the year-to-date, though it had showed weakness through June, dropping almost 2%.

Big banks were trading higher, but not by enough to offset the tech losses, with JPMorgan Chase & Co rising 1.5% and Wells Fargo adding 2.67%.

“Stocks like JPMorgan Chase, State Street and Wells Fargo are all in positive territory as they all announced plans to hike their dividends,” said CMC Markets market analyst David Madden earlier in the session.

“US banks couldn’t increase their capital returns to shareholders until they passed the second round of the stress test, and seeing as the hurdle has been cleared, shareholders are in for a higher payout.”

The CBOE Volatility Index suggested concerns were growing in the market, leaping up to 14.1%.

On the economic front, the US economy managed growth of 1.4% in the first quarter, according to fresh data from the Commerce Department.

Weekly jobless claims were slightly ahead of expectations, at 240,000 against forecasts for 240,000.

Dow Jones - Risers

JP Morgan Chase & Co. (JPM) $91.13 1.48%
Goldman Sachs Group Inc. (GS) $224.49 0.53%
Chevron Corp. (CVX) $104.12 -0.15%
General Electric Co. (GE) $27.02 -0.22%
Unitedhealth Group Inc. (UNH) $185.08 -0.23%
Pfizer Inc. (PFE) $33.63 -0.36%
Nike Inc. (NKE) $53.17 -0.36%
American Express Co. (AXP) $83.63 -0.40%
United Technologies Corp. (UTX) $121.64 -0.69%
Home Depot Inc. (HD) $152.16 -0.70%

Dow Jones - Fallers

Cisco Systems Inc. (CSCO) $31.41 -2.09%
Intel Corp. (INTC) $33.54 -1.93%
Visa Inc. (V) $94.42 -1.88%
Microsoft Corp. (MSFT) $68.49 -1.88%
Procter & Gamble Co. (PG) $86.99 -1.56%
Apple Inc. (AAPL) $143.68 -1.47%
3M Co. (MMM) $207.85 -1.32%
Merck & Co. Inc. (MRK) $64.34 -1.26%
Travelers Company Inc. (TRV) $126.37 -1.09%
Boeing Co. (BA) $197.46 -1.08%

S&P 500 - Risers

Southwestern Energy Co. (SWN) $6.18 6.00%
Constellation Brands Inc. Class A (STZ) $193.97 5.60%
Devon Energy Corp. (DVN) $31.81 4.12%
Regions Financial Corp. (RF) $14.66 4.05%
Newfield Exploration Co (NFX) $28.60 3.77%
Diamond Offshore Drilling Inc. (DO) $11.13 3.63%
Murphy Oil Corp. (MUR) $25.66 3.51%
Anadarko Petroleum Corp. (APC) $45.25 3.33%
Range Resources Corp. (RRC) $23.59 3.24%
Citigroup Inc. (C) $66.98 2.76%

S&P 500 - Fallers

Lam Research Corp. (LRCX) $142.35 -3.71%
McCormick & Co. (MKC) $95.36 -3.63%
ConAgra Brands Inc (CAG) $36.08 -3.45%
KLA-Tencor Corp. (KLAC) $92.51 -3.37%
Nvidia Corp. (NVDA) $146.68 -3.34%
Seagate Technology Plc (STX) $38.91 -3.16%
Microchip Technology Inc. (MCHP) $77.38 -3.07%
Vertex Pharmaceuticals Inc. (VRTX) $127.24 -2.95%
Applied Materials Inc. (AMAT) $41.44 -2.93%
Broadcom Limited (AVGO) $234.04 -2.91%

Nasdaq 100 - Risers

Walgreens Boots Alliance, Inc. (WBA) $78.37 1.66%
Baidu Inc. (BIDU) $179.63 0.92%
Liberty Global plc Series C (LBTYK) $30.77 0.89%
Mattel Inc. (MAT) $20.87 0.87%
Liberty Global plc Series A (LBTYA) $31.71 0.76%
American Airlines Group (AAL) $49.62 0.75%
Twenty-First Century Fox Inc Class A (FOXA) $28.19 0.28%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $285.88 0.21%
Fastenal Co. (FAST) $42.53 0.19%
PACCAR Inc. (PCAR) $65.31 -0.08%

Nasdaq 100 - Fallers

NetEase Inc. Ads (NTES) $302.10 -4.83%
JD.com, Inc. (JD) $39.50 -4.31%
Incyte Corp. (INCY) $128.78 -4.13%
Shire Plc Ads (SHPG) $165.30 -3.79%
Mercadolibre Inc. (MELI) $252.43 -3.77%
Lam Research Corp. (LRCX) $142.35 -3.71%
KLA-Tencor Corp. (KLAC) $92.51 -3.37%
Nvidia Corp. (NVDA) $146.68 -3.34%
Dish Network Corp. (DISH) $62.69 -3.17%
Seagate Technology Plc (STX) $38.91 -3.16%