The stock market opened slightly lower on Wednesday, May 8th, with pressure on technology stocks dragging down major indexes. This ends the recent winning streaks of the Dow Jones Industrial Average and the S&P 500.
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Market Movers: The Dow Jones Industrial Average (DJIA) fell around 51 points, or 0.1%. The S&P 500 dipped by 0.4%, and the tech-heavy Nasdaq Composite pulled back by 0.6%.
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Tech Tumble: Several tech companies led the decline. Uber shares dropped 8.5% after reporting a surprising net loss and weaker-than-expected revenue. Intel also lost more than 2% after lowering its second-quarter revenue forecast.
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Bright Spots: Not all stocks were down. MercadoLibre, a Latin American e-commerce company, jumped over 8%, and GE Vernova, an industrial conglomerate, rose more than 8%.
Overall, it's a quiet day for the market so far, with a slight downward trend. Investors are likely waiting for further economic data or earnings reports before making any major moves.