2% plunge as Dow rout continues amid tech woes, oil price fall

Dow falls nearly 500 points, dragged down by Target and tech shares

Big technology and internet companies tumbled again Monday, leading to broad losses across the stock market.

"There's more sellers than buyers", explained CBS News business analyst Jill Schlesinger.

Target stocks fell 10.5 percent after a reporting lesser earnings than expected for the third quarter as major retailers prepare for Black Friday and the holiday shopping season at large. Department store Kohl's gave up 9.4 percent to $69.36 and TJX, the parent of TJ Maxx, fell 3.8 percent to $47.12.

Nervous investors have been dumping shares of USA companies for weeks, as worries about the global economy mount due to obstacles ranging from the fallout from the U.S.

Major technology companies including Apple and Microsoft rose Wednesday, and crude oil prices climbed 3.8 percent a day after sinking to their lowest level in a year. Microsoft lost 2.5 percent to $102.07.

The S&P 500 index fell 45 points, or 1.7 percent, to 2,690.

Helmerich & Payne (NYSE:HP), Molson Coors (NYSE:TAP) and AmerisourceBergen (NYSE:ABC) were among the top S&P 500 gainers for the session. Eastern time. The Dow Jones Industrial Average sank 428 points, or 1.7 percent, to 24,984. It was down 648 earlier.

The Nasdaq composite lost 219 points, or 3 percent, to 7,028.

The selling was widespread.

The Best Black Friday deals of 2018
In the hardware department, you'll find tons of PS4, Xbox One, or Nintendo Switch bundles with a bonus $50 gift card at GameStop. Otherwise, the bundle is available for the standard Black Friday price of $259.99 (regularly $379.99) if you aren't trading-in.

See the first trailer for live-action Lion King movie
The upcoming computer-animated film was directed by Jon Favreau , produced by Walt Disney Pictures and written by Jeff Nathanson. The trailer features a speech from King Mufasa explaining to Simba the limits of the kingdom as well as his destiny to be king.

YouTube has started adding free, ad-supported movies
The latest stats reveal that we've already reached a point where 20 percent of YouTube is watched via a smart TV and it's growing. Walmart's streaming service Vudu, as well as Tubi, offer their own selection of free films.

A trader follows a chart of stock highs and lows Monday at the New York Stock Exchange.

The stock has lost half its value since November 8 in spite of a big rally on Friday.

Apple fell 4 percent, Facebook lost 5.5 percent and Amazon fell 4.7 percent.

The Russell 2000 index of smaller-company stocks lost 29 points, or 1.9 percent, to 1,498. Brent crude, used to price global oils, fell 24 cents to $66.55 per barrel in London. The biggest decliners are Facebook, which has been hounded by data privacy issues, down almost 40 percent from its recent peak, and Netflix, which is off 37 percent. Boeing gave up 4.8 percent, but is still one of the best-performing stocks in the 30-stock index.

Faced with these challenges, investors have lately turned to safer bets such as utilities, real estate companies, and makers of household goods.

The Nasdaq is up 5.43 points, or 0.1 percent.

While the S&P 500 is only halfway to a bear market drop of 20 percent, Michael Wilson, chief USA equity strategist at Morgan Stanley, told clients in a report this week that he believes Wall Street is already in a bear market.

United States. -traded shares of Nissan lost 5.8 percent to $16.90.

Wall Street stocks suffered a second consecutive battering on Tuesday, with weakness in the technology sector spreading to other areas, especially energy and retail. The yield on the 10-year Treasury note remained at 3.06 per cent.

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