NEW YORK, June 4 — US stocks ended lower on Thursday, with tech shares dragging on the S&P 500 and Nasdaq, as investors balanced concerns about inflation and the Federal Reserve reining in stimulus with relief about corporate tax hikes.
Investors are focused on whether robust economic reports could prompt the Fed to pare back monetary support put in place during the coronavirus pandemic sooner than expected. The Dow Jones Industrial Average fell 23.34 points, or 0.07 per cent, to 34,577.04; the S&P 500 lost 15.27 points, or 0.36 per cent, at 4,192.85; and the Nasdaq Composite dropped 141.82 points, or 1.03 per cent, to 13,614.51.
The energy sector rose 0.3 per cent and financials gained 0.2 per cent. Those and other value stock segments that are expected to outperform in an expanding economy have topped tech and other growth shares for much of 2021. Frenzied trading continued in retail investor favorite AMC Entertainment Holdings. After big swings, AMC shares ended down 17.9 per cent after the theater chain operator said it completed a share offering it announced earlier in the day.
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