Video Game Blow Ends Wall Street Winning Streak

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2019-02-07 HKT 05:28

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  • Video-game earnings weighed on Wall Street. Photo: AP

    Video-game earnings weighed on Wall Street. Photo: AP

The index, viewed as the best proxy for the overall stock market, finished 0.2 percent lower at 2,732.

The Dow Jones Industrial Average shed 0.1 percent to close at 25,390, while the tech-rich Nasdaq Composite Index fell 0.4 percent to 7,375.

Analysts have been warning that Wall Street could be primed for a pause or pullback after a nearly unbroken push higher since late December.

Tom Cahill of Venture Wealth Management said the overall earnings season has been "pretty good."

Still, companies that reported after the market closed on Tuesday and on Wednesday had a mixed performance, with General Motors' shares climbing 1.6 percent and Disney shedding 1.1 percent.

Video-game developers Electronic Arts and Take-Two Interactive dived more than 13 percent on disappointment over their results as the companies contend with the wildly popular Fortnite game from Epic Games/Tencent.

Another game company, Activision Blizzard, lost 10.1 percent. (AFP)

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