Advertisement

Dow slides 147 points as major indexes fall flat on Thursday

A large American Flag and a sign that reads Together, We're Strong are seen Thursday outside the New York Stock Exchange on Wall Street in New York City. Photo by John Angelillo/UPI
A large American Flag and a sign that reads "Together, We're Strong" are seen Thursday outside the New York Stock Exchange on Wall Street in New York City. Photo by John Angelillo/UPI | License Photo

May 28 (UPI) -- The major U.S. stock indexes closed flat on Thursday, ending the day with slight losses after gains earlier in the week.

The Dow Jones Industrial Average closed down 147.63 points, or 0.58 percent and the S&P 500 dropped 0.21 percent.

Advertisement

The Nasdaq Composite was on pace for six consecutive positive sessions on the strength of rising tech stocks but ultimately ended the day down 0.46 percent as stocks began to dip.

Netflix stock closed down 1.54 percent, Amazon fell 0.39 percent, Microsoft dropped 0.23 percent and Google's parent company, Alphabet, declined 0.14 percent.

Facebook, Amazon, Apple, Netflix, Alphabet and Microsoft have all gained more than 20 percent in recent months, largely contributing to gains in the S&P 500 which has rallied more than 33 percent from an intraday low on March 23.

MGM Resorts stock has increased more than 70 percent in the same period and Disney has grown 27 percent amid optimism about plans to reopen businesses and other activities following restrictions to prevent the spread of the COVID-19 pandemic.

Those stocks fell on Thursday, however, with MGM Resorts dropping 4.86 percent and Disney sliding 3.93 percent.

Latest Headlines