The markets were lower again today as tech stocks and energy pulled the markets lower. The Dow 30 closed higher by 22, the S&P 500 sold off 8, and the Nasdaq 100 closed down on the day by 96.
Tech stocks saw a spread in selling pressure today, which reached beyond the big FANG names. From RedHat (RHI ), to Micron Technology (MU ), to Adobe (ADBE ) the selling pressure was broad. Many of these tech names lost over 3% today.
Facebook (FB ) and Twitter (TWTR ) both received media attention today as leaders from each company headed to Capitol Hill to testify before Congress. Lawmakers questioned how the social media platforms have handled and hate speech and election interference, and how they plan to address these issues going forward. Shares of both companies sold off on the day.
Walmart (WMT ) shares were higher on the day after getting an upgrade from Barclays. The analyst firm said that Walmart is in the third phase of their transformation, which will focus on e-commerce and technology capabilities. They said that the transformation has been "successful."
Restoration Hardware (RH ) shares sold off to recent lows following a disappointing earnings announcement. Shares fell about 10% when the company reported revenue numbers that were below expectations. Sales also came in lower. On the plus side, the company did raise their outlook for the rest of the year.
Toyota (TM ) shares sold off today on news that the company would recall just over 1 million hybrid cars to fix a wiring issue. The recall affects 192,000 Priuses from 2015 to 2018. Shares are currently trading at yearly lows.
