News Formal

Wall Street drops as tech stocks hit by spike in yields

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 66%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Wall Street opens lower as spike in yields pressures tech stocks

REUTERS: Wall Street's main indexes slipped on Tuesday as investors pulled out of heavyweight tech-related stocks and flocked to undervalued banks and industrial stocks amid a rise in U.S. bond yields.

"We are going through a period where people are adjusting to slightly higher rates," said Jon Maier, chief investment officer at Global X ETFs in New York. Bank stocks rebounded 1.7per cent as investors took heart from signs that the impact from the fall of a U.S. hedge fund didn't ripple out to broader markets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street opens lower as spike in yields pressures tech stocksWall Street's main indexes opened lower on Tuesday as a rise in U.S. bond yields hit heavyweight tech-related stocks, while undervalued banks and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US SEC official warns Wall Street of risks associated with blank-check companiesA U.S. markets watchdog official on Wednesday warned dealmakers in the frothy blank-check market to follow the regulatory demands associated with ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »