Thursday, 13 Feb 2020 11:32 PM MYTFEBRUARY13 — Wall Street’s main indexes eased from record highs today, pressured by shares of Cisco after its disappointing quarterly forecast, while a spike in new coronavirus cases in China weighed on the sentiment.
“The virus news coming out of China a bit concerning, especially when investors thought it was all behind them,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.Cisco Systems Inc shares declined more than 6 per cent, the biggest drag on the three indexes, after the network gear maker’s lacklustre revenue and profit forecasts.
At 9:54 a.m. ET, the Dow Jones Industrial Average was down 95.16 points, or 0.32 per cent, at 29,456.26 and the S&P 500 was down 7.01 points, or 0.21 per cent, at 3,372.44. The Nasdaq Composite was down 28.81 points, or 0.30 per cent, at 9,697.15.
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