The Dow Jones Industrial Average experienced a decline in its closing value on Thursday. This was primarily due to a decline in technology stocks led by Meta (formerly known as Facebook), as concerns regarding a slowdown in advertising growth outweighed the positive impact of better-than-expected quarterly results. Despite the positive performance of some companies, the overall sentiment towards tech stocks remained uncertain.
Investors were increasingly cautious about the future growth prospects of tech companies, particularly in the advertising sector. This unease stemmed from the realization that advertising growth may not be as robust as previously anticipated. The decline in tech stocks, with Meta leading the way, overshadowed the positive quarterly results reported by other companies. As a result, the Dow closed lower as market participants weighed these mixed signals about the tech sector’s outlook.
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