Tech Selloff Sends Wall St to Two‑Week Lows
· Business · Reuters, Investing.com
Tech shares fell sharply on Monday, dragging the Nasdaq 0.8% lower to a two‑week low and pulling the S&P 500 down 0.6% to 14‑day lows. The Dow Industrial Average slipped 2%, also hitting its lowest level in 14 days. Oil prices advanced to about $95.5 a barrel, while U.S. Treasury yields rose, with the 10‑yr benchmark moving up to 4.0%. The slide was attributed to renewed concerns over inflation and the Fed’s policy path, combined with weaker tech earnings guidance. Market observers warned that the downturn could pressure company valuations and fuel a broader market correction if the slide deepens.
Why it matters
The fall in tech stocks dampens investor sentiment and could lower earnings valuations for companies listed on U.S. exchanges, affecting global portfolio allocations. Rising yields and higher oil prices may tighten liquidity and increase borrowing costs for businesses and households worldwide.
Read the original report — Reuters
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