Equities New York close: jobs report and weak numbers stop tech rally

NEW YORK (dpa-AFX) – Profit-taking slowed down the recent rally in US technology stocks at the end of the week. Disappointing quarterly reports from two heavyweights in the tech industry caused disillusionment. In addition, the labor market showed surprising strength in January – and with it the recently burgeoning hope that in terms of monetary policy loosening will soon be likely again, put a damper on. The rate-sensitive technology stocks were now avoided again on Friday.

The tech-heavy NASDAQ 100 was down 1.79 percent to 12,573.36 points. The stock exchange barometer has gained around 15 percent since the beginning of the year and has thus increased particularly significantly.

The broad S&P 500 fell 1.04 percent on Friday to 4136.48 points. The leading index Dow Jones Industrial (Dow Jones 30 Industrial) fell by 0.38 percent to 33,926.01 points. On a weekly basis, this results in a minus of 0.15 percent, while the Nasdaq 100 still shows a plus of a good 3 percent in this regard./la/zb

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