The S&P 500 fell on Tuesday, snapping a seven-day winning streak, as declines in some of the major tech names escalated at the end of the trading day.
 | TUE, AUG 11, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | BA | 180.13 | +0.72 | +0.40% | | AAPL | 437.50 | -13.41 | -2.97% | | MSFT | 203.38 | -4.87 | -2.34% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAL | 13.73 | -0.27 | -1.93% | | GE | 6.73 | +0.06 | +0.90% | | BAC | 26.92 | +0.36 | +1.36% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAL | 13.73 | -0.27 | -1.93% | | AMD | 76.88 | -5.36 | -6.52% | | UAL | 36.83 | -0.71 | -1.89% | |
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Dreams of the S&P 500 hitting its February all-time high were dashed by the index's biggest contributor of gains since the coronavirus-pandemic low: Big Tech. Shares of Facebook, Amazon, Apple, Netflix, Alphabet and Microsoft all dropped on Tuesday. Those losses — which mounted in the final hour of trading — offset gains made by the names that would benefit from the economy reopening. Tuesday's downward pressure in tech highlighted the overconcentration in those few stocks that has worried so many on Wall Street. The S&P 500 traded higher for most of the session before rolling over. Still, the broader market index remained just over 1% removed from its Feb. 19 intraday record of 3,393.52. A record closing high above 3,386.15 is even more within reach. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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