U.S. tech stocks rebound as global bond rout eases
Vildana Hajric, Bloomberg News VIDEO SIGN OUT
U.S. tech stocks staged a modest rebounded on the last day of a tumultuous week as a global bond rout eased, sending the yield on 10-year Treasuries tumbling below 1.5 per cent.
Gains for Microsoft Corp. and Amazon.com Inc. helped lift the Nasdaq 100 about 0.6 per cent. Energy producers and banks were among the worst performers, dragging down the Dow Jones Industrial Average. The dollar jumped for a second day, helping fuel a slump in commodities from oil to gold to copper.
Asian shares tumbled in line with Thursdayâs rout in the U.S., and European gauges also closed lower. Global bonds stabilized after central banks from Asia to Europe moved to calm a panic that had sent U.S. government bond yields to their highest level in a year and spurred a selloff in stock markets.
Stocks extend drop as global bond selloff eases: markets wrap
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Global bond selloff eases; stock slump extends: markets wrap
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