U.S. stocks end lower as tech sector drops sharply amid rising bond yields

📆 07/09/2023 00:10:00
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U.S. stocks finished lower Wednesday, with shares of technology companies dropping sharply, as the S&P 500 booked back-to-back losses amid a rise in Treasury...

U.S. stocks finished lower Wednesday, with shares of technology companies dropping sharply, as the S&P 500 booked back-to-back losses amid a rise in Treasury yields. The Dow Jones Industrial Average DJIA, -0.57% fell 0.6%, while the S&P 500 SPX, -0.70% dropped 0.7% and the tech-heavy Nasdaq Composite COMP, -1.

06% sank 1.1%, according to preliminary data from FactSet. Information technology was the S&P 500’s worst-performing sector on Wednesday with a loss of around 1.4%. In the U.S. bond market, the yield on the 10-year Treasury note rose for a third straight day on Wednesday to 4.289%, according to Dow Jones Market Data.

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