Xinhua
23 Feb 2021, 02:05 GMT+10
NEW YORK, Feb. 22 (Xinhua) -- U.S. stocks opened lower on Monday amid a noticeable pullback in the tech sector.
Shortly after the opening bell, the Dow Jones Industrial Average sank 193.09 points, or 0.61 percent, to 31,301.23. The S&P 500 decreased 31.27 points, or 0.80 percent, to 3,875.44. The Nasdaq Composite Index dipped 194.64 points, or 1.40 percent, to 13,679.82.
Nine of the 11 primary S&P 500 sectors dropped in morning trading, with technology down 1.3 percent, leading the laggards. Energy rose 2.1 percent, the best-performing group.
The above market moves came as rising bond yields stoked worries that equities, particularly highflying tech shares, have grown too expensive.
The yield on the benchmark 10-year U.S. Treasury jumped to 1.34 percent last week, near its highest level since February 2020.
For the week ending Friday, U.S. equities posted mixed results as Wall Street assessed the possibility of further fiscal stimulus, while sifting through a slew of economic data. The Dow logged a weekly rise of 0.1 percent, while the S&P 500 and the Nasdaq Composite fell 0.7 percent and 1.6 percent, respectively.
Get a daily dose of Hong Kong Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hong Kong Herald.
More InformationOTTAWA, Canada - Ramping up pressure on Liberal Prime Minister Justin Trudeau to toughen his stance on China, Canada's parliament ...
Goodyear Tire and Rubber Company's announcement that it would purchase rival Cooper Tire for $2.8 billion ensures Goodyear will double ...
BEIJING, China: During the recent Lunar New Year holiday, ticket sales at Chinese movie theaters reached a record breaking $1.2 ...
Following the deaths of 24 soldiers after clashing last June, Indian and Chinese troops have withdrawn from a disputed Himalayan ...
Washington [US], February 25 (ANI): Chinese People's Liberation Army (PLA) has been carrying out "secret classified animal experiments" in Wuhan ...
© Provided by Xinhua BEIJING, Feb. 25 (Xinhua) -- Chinese President Xi Jinping on Thursday hailed the country's achievement of ...
Tesla founder Elon Musk is no longer the richest person on earth after his stock portfolio tumbled 6 percent on ...
NEW YORK, New York - U.S. stocks closed sharply higher on Wednesday adding to the volatility this week which has ...
CHICAGO, Illinois - After engine parts fell onto a residential neighborhood in Denver, USA this weekend, Boeing Co. has recommended ...
DUBLIN, Ireland - The government is considering easing the nationwide Covid lockdown before the planned nine-week deadline, as Taoiseach Micheal ...
SYDNEY, NSW, Australia - Sharemarkets in Asia were rocky on Wednesday following a violent sell-off on Wall Street a day ...
TEL AVIV, Israel: An Israeli study has found the COVID-19 vaccine developed by Pfizer and BioNTech effective in preventing laboratory-confirmed ...