Business
Tech shares pull down Wall Street as bond yields soar – ABC News
Wall Street closes lower as technology stocks fall and bond yields rise to the highest in more than a year.
US stocks have slipped, with investors selling tech-related growth shares as US Treasury yields hit a 14-month high.
Shares of Apple, Microsoft and Amazon fell and most sectors dropped on the S&P 500 index.
But financials, industrials and consumer discretionary firms rose, extending the recent rotation out of growth and into so-called value names as the March quarter ended.
Bank stocks rebounded as investors took heart from signs that the impact from the fall of a US hedge fund did not ripple…
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