Wall Street falls as tech leads sell-off on earnings gloom
NEW YORK (Reuters) – U. S. stocks fell on Tuesday, led by losses in technology after brokerage downgrades of Intel and other major companies amid worries about third-quarter U. S. earnings. Shares of Intel, the world’s largest semiconductor maker, lost 2. 7 percent to $21. 91 after negative reports by at least two brokerages. Robert W. Baird & Co cut its price target for Intel, citing weak demand for notebooks. The news ignited a bit of selling sentiment across the board in large-cap technology shares, including Apple, which has been under pressure in recent weeks. . . .
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