US STOCKS fell yesterday, taking the S&P 500 to its lowest close in seven months, as industrials and technology shares fell and investors stayed on their heels after last week’s payrolls figure discouraged buyers.
The Nasdaq fared the worst as investors unloaded positions in the most liquid large-cap technology shares.
Research in Motion fell 5.2 per cent to $56.56 on worries about the BlackBerry’s sales and after the introduction of Apple’s latest iPhone. Apple lost 1.9 per cent.
The S&P 500 is down 13.7 per cent from its 23 April closing high for the year, firmly in correction territory. The benchmark index breached a key technical support level around 1,060 late in the afternoon.
The Dow Jones industrial average fell 115.48 points, or 1.16 per cent, to 9,816.49.
The Standard & Poor’s 500 Index slid 14.41 points, or 1.35 per cent, to 1,050.47.
The Nasdaq Composite Index tumbled 45.27 points, or 2.04 per cent, to 2,173.90.