Tech Stocks Slump as Small Caps Gain; Gold Falls: Markets Wrap
- Latest jobs report is encouraging; traders eye stimulus
- Gold falls while greenback advances as investors seek haven
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Tech shares fell as the White House ramped up its confrontation with China, while a better-than-forecast jobs report helped fuel advances for smaller U.S. companies.
The Nasdaq Composite Index pared a weekly increase as heavyweights including Apple Inc., Microsoft Corp. and Amazon.com Inc. fell. Gains for smaller banks, manufacturers and utilities helped lift the Russell 2000. Investors kept a close eye on efforts by the White House and lawmakers to reach a deal to extend a coronavirus relief package, with Treasury Secretary Steven Mnuchin saying he’ll recommend President Donald Trump move ahead with executive actions to halt evictions and possibly restore some unemployment aid after talks stalled.