Futures, Bitcoin Slide As Buying Frenzy Fizzles; Dollar Jumps
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U S Stocks Drop on New Risks
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Updated Jan. 11, 2021 4:35 pm ET
A slide in shares of technology giants weighed on the broader market Monday as investors grew wary of the potential for heightened regulation tied to the market’s most enduring winners.
The S&P 500 declined 25.07 points, or 0.7%, to 3799.61 after hitting a record on Friday. The tech-heavy Nasdaq Composite dropped 165.54 points, or about 1.3%, to 13036.43. The Dow Jones Industrial Average shed 89.28 points, or 0.3% to 31008.69.
Tech heavyweights underperformed the broader market as they slashed access to some of President Trump’s favorite megaphones after the storming of the Capitol by his supporters. The riot, planned and discussed on social media, is expected to spur Congressional efforts to regulate big tech. Facebook has indefinitely suspended President Trump, while Apple , Amazon.com and Alphabet ’s Google retracted support for the social-media app Parler.