Technology sector leads stock market slides – Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky 2022-01-10 11:26:46 –

Bond yields continued to rise as stocks fell sharply in the morning transaction on Wall Street on Monday and investors expected a move to raise interest rates through the Federal Reserve.

The S & P 500 fell 1.8%, the Dow Jones Industrial Average fell 1.5%, and the tech-heavy Nasdaq fell 2.3%.

Technology stocks led the slide.

Take-Two Interactive, a maker of video games such as Grand Theft Auto, plunged after announcing an agreement to acquire Words With Friends and Zynga, a maker of Farmville.

father, CNN So-called “FAANG Stocks” (an acronym used to describe the normally trusted tech company of Meta Platforms (Facebook’s parent company), Apple, Amazon, Netflix, and Google owner Alphabet) reportedly continued its recent slides on Monday. doing. Microsoft, computer chip maker Nvidia, and Elon Musk’s Tesla have also suffered losses since the calendar was in 2022.

The fall in tech stocks will also allow investors to predict when and how the Federal Reserve will raise interest rates. The Federal Reserve has already shown that interest rates will rise later this year.

according to Associated PressHigher interest rates make stocks of expensive tech companies and other expensive growth companies unattractive to investors. As a result, bond yields are rising, while the sector is declining.

Yields on 10-year Treasuries rose from 1.76% late Friday to 1.80%.

Other low-risk sectors, such as utilities, utilities, financial equities, and household goods makers, have held up more than most markets.

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