NEW YORK, May 24 (Xinhua) — U.S. stocks closed mixed on Tuesday as tech sell-off resumed on Wall Street following a warning by social media group Snap.
The Dow Jones Industrial Average rose 48.38 points, or 0.15 percent, to 31,928.62. The S&P 500 fell 32.27 points, or 0.81 percent, to 3,941.48. The Nasdaq Composite Index dipped 270.82 points, or 2.35 percent, to 11,264.45.
Six of the 11 primary S&P 500 sectors ended in red, with communication services and technology down 3.7 percent and 1.57 percent, respectively, among the worst-performing groups. Utilities rose 2.01 percent, outpacing the rest.
Snap shares plummeted 43 percent after the company slashed its financial guidance, citing a more difficult business environment.
Shares of major U.S. tech giants, such as Meta Platforms, Google-parent Alphabet and Amazon, all closed noticeably lower.
Investors continued to assess economic outlook as they await the latest meeting minutes from the U.S. Federal Reserve, due on Wednesday, which could give clues on whether the monetary tightening would continue.
U.S. equities markets have been turbulent recently as investors have grown concerned that aggressive central bank policy tightening to curb inflation may tip the economy into recession.
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