New York Report: Dow slips on world tension
WALL Street yesterday fell back slightly after two days of gains, as investors focused on geopolitical tensions.
The Dow Jones industrial average lost 9.44 points, or 0.1 per cent, to 16,560.54. The S&P 500 index was down 3.17 points, or 0.2 per cent, to 1,933.75, while the Nasdaq composite fell 12.08 points, or 0.3 per cent, to 4,389.25.
Weakness in tech companies pressured the Nasdaq, with F5 Networks down 2.7 per cent at $113.64 and Applied Materials off 1.8 per cent to $20.72.
Drug companies rallied, with Intercept Pharmaceuticals up 26 per cent to $299.22 a day after saying its drug to treat liver disease was effective in mid-stage trials.
Exact Sciences rose six per cent to $18.12 after the Food and Drug Administration approved its non-invasive colorectal cancer screening test.