AM Report 31 Jul 18: Tech weakness and tariff worries hit stocks

US sharemarkets declined due to a sell-off in technology shares with the Nasdaq posting its third consecutive loss of 1% for the first time in almost 3 years. Shares of Facebook and Netflix fell between 2.2% and 5.7%. Tyson Foods shares declined 7.6% after the company cut its full-year profit forecast. Caterpillar shares fell 2%, despite raising its full-year profit. Media company CBS shares dropped 5.1% on personal misconduct allegations against CEO Leslie Moonves. The Dow Jones index fell by 144 points or 0.6%, the S&P 500 index was down by 0.6%, and the Nasdaq index lost 107 points or 1.4%.

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