Wed, 23 Jun 2021

NEW YORK, May 17 (Xinhua) -- U.S. stocks finished lower on Monday, weighed down by weakness in tech and communication services sectors.

The Dow Jones Industrial Average fell 54.34 points, or 0.16 percent, to 34,327.79. The S&P 500 lost 10.56 points, or 0.25 percent, to 4,163.29. The Nasdaq Composite Index slid 50.93 points, or 0.38 percent, to 13,379.05.

Seven of the 11 primary S&P 500 sectors ended in red, with communication services and technology down 0.88 percent and 0.7 percent, respectively, leading the laggards. Energy rose 2.3 percent, the best-performing group.

U.S.-listed Chinese companies traded mostly higher with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

On the data front, the Empire State manufacturing index, a key metric to gauge business activity growth in New York State, slipped to 24.3 in May from 26.3 in April, the New York Federal Reserve said Monday. Economists surveyed by The Wall Street Journal expected a reading of 24.8. The Empire State report is widely viewed as a leading indicator of national trends, drawing market attention.

For the week ending Friday, the Dow fell 1.1 percent, the S&P 500 slipped 1.4 percent, and the tech-heavy Nasdaq slid 2.3 percent.

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