NEW YORK. U.S. stocks dropped yesterday, led lower by industrial and tech shares, as lingering disappointment over last week’s payrolls figure kept investors in no mood to buy equities.
“You’re going to have this volatile market with a downward bias until we get any kind of positive news,” said Alan Lancz, president of Alan B. Lancz & Associates in Toledo, Ohio.
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The Nasdaq fared the worst as investors unloaded positions in the most liquid large-cap technology shares.