US stocks trade mixed amid tumbling tech shares

US stocks trade mixed amid tumbling tech shares

New York: US stocks traded on a mixed note on Wednesday as tech shares slid, dragging the market.

The Dow Jones Industrial Average was up 17.79 points, or 0.07 per cent, to 25,970.27. The S&P 500 dipped 9.09 points, or 0.31 per cent, to 2,887.63, Xinhua news agency reported.

The Nasdaq Composite Index decreased 83.17 points, or 1.03 per cent, to 8,008.07.

The Dow managed to reverse early losses, underpinned by rallying Caterpillar and Walmart stocks. Shares of both companies rose about 1.5 per cent around mid-day.

Four of the 11 primary S&P 500 sectors traded lower with technology leading the laggards.

Major tech shares dropped, weighing on the Nasdaq, with Twitter and Netflix among the worst performers. Shares of the companies fell 4.88 per cent and 4.30 per cent, respectively, at mid-day trading.

Investors also kept a close watch on another round of US-Canada trade talks which is set to take place on Wednesday.

The US and Canada failed to secure an agreement to replace the current North American Free Trade Agreement by last Friday’s deadline imposed by the US government.

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