US STOCKS-Nasdaq ends sharply lower in tech sell-off Reuters 5/4/2021 Nasdaq down 1.88%, S&P 500 down 0.67%, Dow Jones up 0.06%
Popular Searches T-Mobile rose after raising guidance (Updates after close of trading)
By Krystal Hu and Shreyashi Sanyal
May 4 (Reuters) - The Nasdaq ended sharply lower on Tuesday as investors dumped megacap growth stocks to seek shelter in more defensive parts of the market, amid concerns on rising interest rate and uncertainty over an upcoming jobs report.
Highly valued technology-related companies including Microsoft Corp, Alphabet Inc, Apple Inc , Amazon.com Inc and Facebook Inc sold off across the board, with Apple falling the most by 3.54%. The Philadelphia Semiconductor Index also dropped by 1.6%.
WASHINGTON (dpa-AFX) - With technology stocks leading the way lower, stocks have moved back to the downside in early trading on Tuesday. The tech-heavy Nasdaq has shown a particularly steep drop
Tech sells off as Nasdaq plunges more than 2%
By Shreyashi Sanyal and Krystal Hu
Reuters
(Reuters) - The Nasdaq tumbled more than 2% on Tuesday as steep declines in megacap growth stocks pushed Wall Street below record trading levels, with investors seeking shelter in more defensive parts of the market.
Highly valued technology-related companies including Microsoft Corp, Alphabet Inc, Apple Inc, Amazon.com Inc and Facebook Inc fell between 2.2% and 4.2%. The Philadelphia Semiconductor Index dropped over 2.3%.
Comments by Treasury Secretary Janet Yellen on the potential need for rising interest rate further exacerbated the tech selloff, as investors worry higher rates would weigh on valuations of growth companies.
Nasdaq ends sharply lower in tech sell-off
By Krystal Hu and Shreyashi Sanyal
Reuters
(Reuters) - The Nasdaq ended sharply lower on Tuesday as investors dumped megacap growth stocks to seek shelter in more defensive parts of the market, amid concerns on rising interest rate and uncertainty over an upcoming jobs report.
Highly valued technology-related companies including Microsoft Corp, Alphabet Inc, Apple Inc, Amazon.com Inc and Facebook Inc sold off across the board, with Apple falling the most by 3.54%. The Philadelphia Semiconductor Index also dropped by 1.6%.
Volume on U.S. exchanges was 12.21 billion shares, the highest in over a month.
U.S. Stocks See Further Downside As Yellen Hints At Higher Interest Rates
WASHINGTON (dpa-AFX) - After coming under pressure early in the session, stocks have seen further downside over the course of the trading day on Tuesday. The major averages have all slid firmly into negative territory, with the tech-heavy Nasdaq leading the way lower.
In recent trading, the major averages have bounced off their lows of the session. While the Nasdaq is down 361.34 points or 1.6 percent at 13,533.78, the S&P 500 is down 52.20 points or 1.3 percent at 4,140.46 and the Dow is down 186.32 points or 0.6 percent at 33,926.91.
The weakness on Wall Street largely reflects a continued pullback by technology stocks, as reflected by the steep drop by the Nasdaq.