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Wall Street slumps as big-name technology shares like Microsoft and Apple are sold off on bond yield rises – ABC News
Rising bond yields see another sell-off of major technology stocks on Wall Street and US employers hire fewer workers than predicted in February.
Shares in major technology have pulled down US stocks as the sell-off in bonds resumed and employers hired fewer people than expected last month.
Key points:
- Rising yields in bonds have put pressure on areas of the market with high valuations
- The Dow was down 0.4pc to 31,270, the S&P 500 down 1.3pc to 3,820 and the Nasdaq down 2.7pc to 12,998
- It came with news that US employers hired less staff than forecast last month
The Nasdaq fell sharply as investors sold big-name tech shareslike Microsoft (-2.7pc),…
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