JaysonPhotography/iStock/Thinkstock(NEW YORK) — Wall Street saw a small dip on Thursday as a pair of Internet companies shared disappointing news.
The Dow Jones Industrial Average dropped 29.65 to 18169.68.
The Nasdaq closed the day at 5215.97, down 34.3 from its open, while the S&P 500 lost 6.39 to end the session at 2133.04.
Twitter on Thursday announced that it would lay of nine percent of its worldwide workforce. The company will also shut down video sharing app Vine. Twitter has struggled to sustain growth in recent months and rumors have swirled about a possible acquisition.
Amazon shares fell by six percent in after-hours trading after the company announced revenue below analysts’ expectations for the summer quarter.
There are also serious concerns over the proposed merger between AT&T and Time Warner. The Senate Judiciary Committee says it will hold a hearing over the merger in December. The main focus of the hearing is said to be the potential impact the deal would have on consumers.
Copyright © 2016, ABC Radio. All rights reserved.