Dow Falled as Technology Running out Steam

Dow Falled as Technology Running out Steam

Dow fell Tuesday as the rally in tech stocks cooled, and some states are concerned that it lifted the restrictions too early. Dow Jones Industrial Average fell by 0.62% to 151 points. While S&P 500 fell 0.65%, Nasdaq Composite fell 0.22%. White House health consultant Dr. Anthony Fauci told Congress that he was not in control of the virus yet and that he was concerned that Covid-19 would speed up as some states reopened businesses very soon. In addition, investor optimism about the reopening of the economy remained cautious. As the number of US coronavirus deaths exceeded 82,000, there were about 1.4 million cases, so investor drug manufacturers' efforts to find Covid-19 treatments and vaccines intensified. Moderna (NASDAQ: MRNA), one of the leading runners in the race to find the Gilvid Sciences (NASDAQ: GILD) and Covid-19 treatments, has retained some of its gains from the previous day, preserving its gains in the wider health sector. Meanwhile, while the vast majority of technology was negative, FAANG began trading roughly unchanged. Google-parent Alphabet (NASDAQ: GOOGL) fell 0.58% while raising its price in the Citigroup tech giant to $ 1,600.