U.S. stocks in the morning: technology stocks led the collective decline in U.S. stocks, Friday the U.S. stock market closed for the day
On Thursday, the three major U.S. stock indices collectively closed lower due to hawkish comments from a number of Fed officials, with technology stocks taking another hit and the Nasdaq falling by more than 2%. Meanwhile, the U.S. retail sales released in March recorded a monthly rate of 0.5%, which also fell short of market expectations, further dampening market sentiment.
Overnight, Musk's announcement that he intends to buy Twitter for $43 billion was met by Saudi Prince Waleed, who is one of the major shareholders, while Twitter said its board will carefully review Musk's proposed acquisition to make a course of action that is in the best interest of the company and all shareholders.
On Friday, U.S. stocks were closed for the day due to the holiday.
The Dow Jones Industrial Average was down 0.33 percent at 34,451.23 points.
The Nasdaq Composite Index was down 2.14% at 13,351.08 points.
The U.S. Standard & Poor's 500 Index fell 1.21% to 4,392.59 points.
In the sector, FAANMG six major technology stocks, Microsoft Corporation (NASDAQ:MSFT) fell 2.71%, Meta (NASDAQ:FB) fell 2.24%, Nifty Inc (NASDAQ:NFLX) fell 2.65%, Google A (NASDAQ:GOOGL) fell 2.44%, Apple (NASDAQ:AAPL) fell 3.00% and Amazon.com (NASDAQ:AMZN) fell 2.47%. Other technology stocks, NVIDIA Corporation (NASDAQ:NVDA) closed down 4.26%, AMD (NASDAQ:AMD) fell 4.79%, Intel Corporation (NASDAQ:INTC) fell 2.85%, Qualcomm Incorporated (NASDAQ:QCOM) closed down 2.56%, Adobe (NASDAQ:ADBE) closed down 2.60%, Alibaba (NYSE:BABA) closed down 4.54%, Micron Technology Inc (NASDAQ:MU) fell 3.11%, and TSMC (NYSE:TSM) fell 3.09%.
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