NEW YORK, NY / ACCESSWIRE / March 20, 2018 / The S&P 500 and the Nasdaq posted their worst daily loss since February 8th on Monday as a sharp decline in Facebook shares triggered a selloff in the technology sector. The S&P 500 Index declined 1.42 percent to close at 2,712.92, while the tech-heavy Nasdaq Composite Index dropped 1.84 percent to close at 7,344.24. The Dow Jones Industrial Average fell 1.35 percent to close at 24,610.91.

"Everyone knows that tech fundamentals are solid, but rumblings like what you are seeing today, that does sort of prompt people to think is this as good as it is going to get or should I take some profits here," said Eric Freedman, chief investment officer for U.S. Bank Wealth Management in Minneapolis, according to Reuters.

RDI Initiates Coverage on:

Cleveland-Cliffs Inc.
https://rdinvesting.com/news/?ticker=CLF

Freeport-McMoRan, Inc.
https://rdinvesting.com/news/?ticker=FCX

Cleveland-Cliffs' stock moved 5.59% lower Monday, to close the day at $7.09. The stock recorded a trading volume of 13,271,719 shares, which was below its three months average volume of 14,341,650 shares. In the last year, Cleveland-Cliffs' shares have traded in a range of 5.56 - 9.35. The share price has gained 27.52% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $7.30 is greater than its 200-day moving average of $7.16. Shares of Cleveland-Cliffs are trading at a Price to Earnings ratio of 5.64. Shares of Cleveland-Cliffs have fallen roughly 10.48 percent in the past month and are down 1.66 percent year-to-date.

Access RDI's Cleveland-Cliffs Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CLF

On Monday, shares of Freeport-McMoRan recorded a trading volume of 11,531,526 shares, which was below the three months average volume of 19,739,990 shares. The stock ended the day 1.69% lower at 18.05. The share price has gained 63.35% from its 52 week low with a 52 week trading range of 11.05 - 20.25. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $18.55 is greater than its 200-day moving average of $16.44. Shares of Freeport-McMoRan are trading at a Price to Earnings ratio of 14.41. Shares of Freeport-McMoRan have fallen roughly 3.63 percent in the past month and are down 4.80 percent year-to-date.

Access RDI's Freeport-McMoRan, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FCX

Our Actionable Research on Cleveland-Cliffs Inc. (NYSE:CLF) and Freeport-McMoRan, Inc. (NYSE:FCX) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com