URL has been copied successfully!
Shares of AppLovin Corp (NASDAQ:APP) are trading lower on Thursday.
This decline stems primarily from a sharp sell-off in the broader technology sector. Investors are rotating out of high-growth tech shares today.
Jobless Claims Meet Market Estimates
Macroeconomic factors are also influencing the downward trend. U.S. initial jobless claims increased by 5,000 to 210,000 during the third week of March.
This figure aligns with median market estimates. However, the data contributed to a cautious atmosphere. The Dow Jones index fell more than 250 points during the morning session.
Communication Services Lag Behind
The communication services sector is among the weakest performers today. In Thursday trading, these stocks fell by 1.6%.
AppLovin is …
Please follow us:
This post was originally published here
