U.S. stocks dropped after the biggest rally in nine months spurred speculation about excessive investor optimism. Treasuries stabilized, following a recent spike in yields. The dollar retreated.
U.S. stocks dropped after the biggest rally in nine months spurred speculation about excessive investor optimism. Treasuries stabilized, following a recent spike in yields. The dollar retreated.
Tech leads stock losses amid valuation warnings
Rita Nazareth and Claire Ballentine, Bloomberg News
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U.S. stocks dropped after the biggest rally in nine months spurred speculation about excessive investor optimism. Treasuries stabilized, following a recent spike in yields. The dollar retreated.
Technology shares led losses in the S&P 500 as giants Apple Inc. and Tesla Inc. dragged down the Nasdaq 100 with the electric-car maker tumbling more than 4 per cent. Target Corp. slumped on an underwhelming profitability outlook. Rocket Cos., a Detroit-based holding company, soared after a news report that the stock could become a Reddit target for its high short-interest.
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