Shares of technology companies fell as traders continued to dump mega-cap tech stocks.
The Roundhill Magnificent Seven exchange-traded fund fell by 2.8% and is now down 15% for the year to date.
Electric car maker Tesla has lost 37% of its value so far this year.
The U.S. producer price index was unchanged on a month-to-month basis in February, a more benign rate of wholesale inflation than economists had anticipated.
Intel shares rose after the chip giant named Lip-Bu Tan as its new chief executive, selecting a former board member and longtime industry executive to help turn around the beleaguered semiconductor company.
Intel has reportedly been in negotiations with Taiwan Semiconductor Manufacturing and others about a purchase of its manufacturing arm.
Shares of design software maker Adobe fell as traders looked askance on its earnings report, despite robust growth.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
March 13, 2025 17:46 ET (21:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.