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U.S. stocks fall as energy, tech lead losses

NEW YORK
2022-07-13 06:24

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NEW YORK, July 12 (Xinhua) -- U.S. stocks dropped on Tuesday as energy and tech sectors led the broad market lower.

The Dow Jones Industrial Average decreased 192.51 points, or 0.62 percent, to 30,981.33. The S&P 500 was down 35.63 points, or 0.92 percent, to 3,818.80. The Nasdaq Composite Index fell 107.87 points, or 0.95 percent, to 11,264.73.

All the 11 primary S&P 500 sectors ended in red, with energy and technology down 2.03 percent and 1.34 percent, respectively, leading the losses.

U.S. beverage and snack giant PepsiCo on Tuesday reported fiscal second-quarter profit and revenue that beat market expectations, and raised its revenue outlook for the year. The stock ended 0.57 percent lower, after rising more than 1 percent earlier in the session.

Bank behemoths JPMorgan Chase, Morgan Stanley, and Citigroup are among the companies on deck to report later this week.

Meanwhile, the U.S. June consumer price index report is due out on Wednesday. The headline inflation number, including food and energy, is expected to rise to 8.8 percent from May's level of 8.6 percent, according to estimates from Dow Jones.
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