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Wall Street falls in tech-led sell-off, Alcoa up late
By Rodrigo Campos, Reuters – U.S. stocks fell on Tuesday, led by losses in technology after brokerage downgrades of Intel and other major companies as worries increased about third-quarter U.S. earnings.
Shares of Intel (INTC.O), the world’s largest semiconductor maker, lost 2.7 percent to $21.90 after negative reports by at least two brokerages. Robert W. Baird & Co cut its price target on the stock to $26 from $32, citing weak demand for notebooks.
The news triggered selling of large-cap technology shares, including Oracle and Apple. Microsoft (MSFT.O) shares lost 1.7 percent to $29.28 and ranked as the biggest drag on both the Nasdaq and the S&P 500.
Read the full story at Reuters [here]
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