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Megacap tech stocks led the drop, with Apple shares down more than 3% for their worst daily drop since August. Tesla similarly fell 3%, while Nvidia dropped almost 2% and Alphabet lost more than 1%.
The losses extend the market's losing streak to five days, putting the Santa Claus rally at risk. Apple stock dropped more than 2.5%. Tesla fell 6% after reporting deliveries.
Stock market today: Wall Street slips in final days of a banner year for US stocks. ... The Dow dropped 418.48 points to 42,573.73, and the Nasdaq fell 235.25 points to 19,486.78.
Micron stock dropped 16% on warning of weaker demand for consumer chips In commodities, bonds, and crypto: West Texas Intermediate crude fell 1% to $69.86 a barrel.
Tech stocks dropped after new Biden administration export rules on AI chips were announced. The sell-off in US stocks continued on Monday as investors dialed back their bets for more interest rate ...
MacDonald's stock dropped 6% after the Centers for Disease Control and Prevention said an outbreak of E. Coli linked to the fast food chain's quarter pounders led to one death and 10 hospitalizations.