The S&P 500 dropped on Thursday after technology company earnings were reported and President Donald Trump’s meeting with China’s leader Xi Jinping concluded, according to a CNBC report.
S&P dropped 0.5%, the Nasdaq Composite dropped 1%, and the Dow Jones Industrial Average rose 0.3%. As of 12:32 p.m., the Dow Jones sits at 47,747, the Nasdaq at 23,709 and the S&P is at 6,857.
Much of the change is being credited to Meta and Microsoft shares dropping 10% and 2%, respectively. Bank stocks like JPMorgan and Bank of America saw increases.
