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Stock Market News: Tech stocks hurt by rising bond yields

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US stocks fall as rising bond yields pressure tech amid easing banking sector fears

US stocks finished in the red Tuesday as tech shares bore the brunt of rising bond yields amid easing turmoil within the banking sector.

The tech-concentrated Nasdaq Composite put in the worst performance among key indexes. The S&P 500 fell for the first time in four sessions, with theTech stocks were stung by a rise in the 2-year Treasury yield, pushing above 4% for the first time in nearly a week. Higher yields slice into the value of future profit for tech and other growth companies.

 

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