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Tech Leads Stock Drop; Dollar Slips on Rate Bets: Markets Wrap - Bloomberg

Tech Leads Stock Drop; Dollar Slips on Rate Bets: Markets Wrap  Bloomberg

Megacap technology stocks newly in the crosshairs of regulators led U.S. equities lower Monday, while speculation the Federal Reserve will warm to cutting rates sent the dollar down. The S&P 500 headed for its lowest close since February and the Nasdaq 100 plunged more than 2 percent as the Faang cohort of tech behemoths was said to potentially face federal probes on antitrust activity. Stocks briefly erased losses and the dollar turned lower after James Bullard became the first Fed board member to publicly call for a rate cut. Facebook, Google Regulatory Woes Erode $137 Billion From Fangs ...

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