Wednesday, 17 March 2021: US equity markets were in decline Tuesday night as the Dow fell from its record high
Mar 16, 2021 ·
4m 29s
US equity markets were in decline Tuesday night as the Dow fell from its record high and snapped a seven-day winning streak ahead of the Federal Reserve’s upcoming policy announcement....
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US equity markets were in decline Tuesday night as the Dow fell from its record high and snapped a seven-day winning streak ahead of the Federal Reserve’s upcoming policy announcement. The Dow Jones Industrial Average fell about 129 points, or -0.4%, to 32,825.95. The S&P 500 slipped -0.2% after setting a record high intraday and finished at 3,962. The tech-heavy Nasdaq Composite eked out a gain of 11.86 points, or less than +0.1% to close at 13471.57, after having been up as much as 1.2% earlier in the day. Tech and communication stocks still posted gains, with Apple, Microsoft, and Google parent Alphabet all up more than +1% and Facebook gaining $5.53, or +2%, to close at $279.28. Amazon, Apple and Google have underperformed in recent months as investors have shifted from growth stocks to value plays, but some of the more mature tech stocks now appear less expensive due to their profitability and strong balance sheets, according to some strategists. Seven of the S&P 500's 11 sectors were in negative territory, with energy stocks performing the worst, weighed down by a decline in oil prices. Investors are keeping a close eye on the Federal Reserve to see whether it will address the recent rise in bond yields.
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