Stocks fell Tuesday, setting the three major indices up for a third straight session of losses as last week’s tech-led selloff rolled on.
“While aggregate US equity future net length is not very stretched, Nasdaq net equity future positioning is close to historical highs,” the analysts said. They added that an increase in the 10-year Treasury yield off the pandemic-era lows also likely triggered a rotation out of longer-duration stocks, including growth and tech names.
Story continues“In the interest of public health, we pledge to always make the safety and well-being of vaccinated individuals our top priority,” according to the letter, signed by the CEOs of companies including AstraZeneca , Johnson & Johnson and Moderna . The information technology, energy and financials sectors led the drop in the S&P 500, as every major sector sank. Shares of Apple, Boeing and Microsoft lagged in the Dow.11:54 a.m. ET: US crude oil futures plunge by most since AprilCrude oil prices plunged alongside equities as a risk-off tone overtook markets. US West Texas intermediate crude oil futures for October delivery dropped 8% shortly before noon in New York, for the commodity’s worst one-day decline since April 27.9:45 a.m.
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