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Tech stocks, Nike drag Wall Street lower after two-day sharp rally

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Reuters

By Devik Jain (Reuters) – U.S. stock indexes fell on Friday following a two-day rally, weighed down by technology and healthcare shares, while a dour sales forecast from Nike further dampened sentiment. The sportswear maker’s shares dropped 6.7% to weigh the most on the Dow and the S&P 500 after it also warned of delays during the holiday shopping season, blaming a supply chain crunch. Shares of footwear retailer Foot Locker shed 5.7%. “There is a real risk that companies are going to miss earnings expectations despite there being strong demand for their products and services,” said Russ Mould…

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