US equity markets retreated, with the Dow and S&P500 relinquishing gains in the final hour of trading to snap a seven session winning streak for both indices - Dow down -105-points or -0.38%, handing back an earlier rally of over >300-points. The broader S&P500 lost -0.80%, logging its worst session since 23 July after trading to within 0.5% of its record intra-day high (3,393.52) set on 19 February earlier in the session. The technology-centric NASDAQ dropped -1.69%. It meant that the Nasdaq snapped a 107-day streak that has seen the index without three down days in-a-row – the second longest such streak in the indice’s history. Facebook Inc (down -2.61%) and Amazon.com Inc (-2.14%) each fell more than 2% along with Microsoft Corp (-2.34%). Apple Inc and Netflix Inc lost -2.97% and -3.4%, respectively. Tesla Inc jumped +7.10% in extended trading after the electric vehicle maker’s board approved a 5-for-1 stock split. Trading will begin on a stock split-adjusted basis on 31 August, 2020.
