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VOL. 46 | NO. 20 | Friday, May 20, 2022

Slumping technology stocks pull Wall Street lower

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NEW YORK (AP) — A slump in several big companies weighed down the stock market Tuesday, leaving most major indexes lower.

The S&P 500 index fell 0.8% and the Nasdaq composite, which is heavily weighted with technology companies, lost 2.3%.

Big gains for McDonald's and UnitedHealth helped push the Dow Jones Industrial Average up 0.2%.

A stark profit warning from Snapchat's parent company spooked investors into dumping the stocks of major social media companies. Snap sank 43.1%, while Facebook's parent company lost 7.6%.

Retailers and banks also fell. The yield on the 10-year Treasury fell sharply, to 2.76%.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0