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Friday, 19 March 2021: US equity markets retreated as a fresh rise in bond yields exerted particular pressure on the technology sector

Friday, 19 March 2021: US equity markets retreated as a fresh rise in bond yields exerted particular pressure on the technology sector
Mar 18, 2021 · 5m

US equity markets retreated as a fresh rise in bond yields exerted particular pressure on the technology sector – Dow fell -153-points or -0.46% a day after recording fresh record...

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US equity markets retreated as a fresh rise in bond yields exerted particular pressure on the technology sector – Dow fell -153-points or -0.46% a day after recording fresh record closing (33,015.37) and intra-day (33,047.58) highs. Chevron Corp declined -3.62%. The broader S&P500 lost -1.48% after also setting record closing (3,974.12) and intra-day (3,983.87) peaks in the previous session. Energy tumbled -4.68% to lead ten of the eleven primary sectors lower. Financials (up +0.56%) was the only primary sector to advance. The Nasdaq slumped -3.02% . Apple Inc (down -3.39%), Amazon.com Inc (-3.44%) and Netflix Inc (-3.75%) all fell more than >3%. The small capitalisation Russell 2000 index fell -2.94% (with the Russell 1000 growth index, which includes technology stocks, dropping more than >2%).
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Author Morgans Financial Limited
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