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US stocks giving background following yesterday’s rally

Stocks fell almost in the process of trading on Tuesday morning after showing a lack of direction early in the session. All major averages have turned down, with tech-heavy Nasdaq showing a noticeable decline.

In recent trading, the key average has fallen to the new lows of the session. The Dow fell 130.45 points or 0.4 percent at 33,405.06, the Nasdaq fell 124.67 points or 0.9 percent at 13,464.16, and the S & P 500 fell 21.39 points or 0.6 percent at 3,880.43.

Some traders took advantage of the strong profits from the previous session and profit-taking contributed to Wall Street’s retreat.

The S & P 500 recorded the largest daily rise since Monday last June, but the Dow and Nasdaq also surged following the fierce mixed performance seen last Friday.

The weakness of the day has fallen three times in a row, despite the continued decline in benchmark 10-year bond yields.

Yields for the decade last Thursday soared above 1.6%, raising concerns about the outlook for interest rates, despite ensuring that the Fed’s monetary policy remains unchanged for the foreseeable future.

Biotechnology stocks have fallen significantly on the day, with the NYSE Arca Biotechnology Index down 1.7%.

Vaccine developer Novavax (NVAX) has posted a sharp loss after reporting a wider than expected fourth quarter loss.

Semiconductor stocks also show significant weaknesses, as reflected in the 1.3% decline in the Philadelphia Semiconductor Index.

Meanwhile, the New York Stock Exchange’s Arca Gold Bug Index is up 1.5% and gold stocks are on the rise. The index has bounced off its lowest closing price in more than 10 months.

Gold inventories of gold has risen from $ 2.70 to $ 1,725.70 per ounce in April deliveries, so the rebound from gold inventories occurs as precious metal prices rise slightly.

In overseas trading, stocks market During trading on Tuesday, it fell almost across the Asia Pacific region. Japan’s Nikkei 225 Index fell 0.9%, while China’s Shanghai Composite Index fell 1.2%.

Meanwhile, major European markets have moved upwards during the session. Germany’s DAX index rose 0.4%, France’s CAC 40 index rose 0.5%, and the UK’s FTSE 100 index rose 0.8%.

In the bond market, government bonds have receded from their highest levels but remain positive. After that, the yield on the benchmark 10-year bond, which moves against the price, drops 1.7 basis points to 1.429 percent.

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US stocks giving background following yesterday’s rally

Source link US stocks giving background following yesterday’s rally

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