By Koh Gui Qing NEW YORK (Reuters) - U.S. stocks hit a one-month low on Tuesday as speculation that rising inflation pressure could prompt interest rate hikes sooner rather than later dragged on shares and hobbled the dollar, which hovered near a 2-1/2-month low. Technology stocks were among the biggest losers, mirroring a sell-off in China, where talk of tighter regulation sent technology shares skidding. But U.S. shares clawed back some of their losses over the course of the day, with the tech-focused Nasdaq Composite reversing the bulk of its early 2% decline. Investors said the snap back in shares suggested that inflation concerns were not quite so entrenched yet, despite rising commodity prices and labor shortages in the United States. They said the sheer volume of money sloshing around in financial markets also meant some individuals are always looking to invest their cash on pull-backs.
Wall Street closes lower as inflation fears prompt tech sell-off
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Wall Street closes lower as inflation fears prompt tech sell-off - Netscape Money & Business
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U S stocks retreat from record high, dollar near 10-week low
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NEW YORK (Reuters) -U.S. stocks fell on Monday and the Dow Jones Industrial Average snapped back from a record high, as worries about accelerating inflation dragged on shares and hobbled the dollar, which struggled at a 10-week low.
U.S. equities losses deepened as the breakeven rates for U.S. Treasury Inflation-Protected Securities, or TIPS, scaled multi-year highs, underscoring rising inflation expectations.
The Dow Jones Industrial Average lost 0.1% after rising to a record 35,091.56 points earlier in the day. The S&P 500 extended losses to 1%, and the Nasdaq Composite fell 2.55%. [.N]
The stocks pullback was mirrored by a broad retreat in riskier assets such as oil and copper, as some investors grew nervous after recent hefty gains.