Wall Street Closes Lower amid Tech Sell-Off

The main indices of the New York Stock Exchange (NYSE) closed lower on Monday, due to increased selling pressures by Wall Street investors who projected concerns about a rise in inflation.

After opening higher and shortly hitting a new intraday record high, the Dow Jones Industrial Average lost all of its gains and turned to the negative side, falling by about 35 points, or 0.1%, to close at 34,742.82 points, after rising as much as 35,091 earlier.

Meanwhile, the S&P 500 lost 44.17 points, or 1.04%, to end the session at 4,188.43 points.

As for the Nasdaq Composite Index, it plunged by 350.38 points, or 2.55%, to finish at 13,401.86 points. The index was pressured by a tech sell-off and large losses by blue chip listed tech stocks.