Dow Sinks As Tech Companies Swoon

(AP) – The Dow Jones Industrial Average plunged more than 800 points, its worst drop in eight months, led by sharp declines in technology stocks.

Rising bond yields have been drawing investors out of the stock market, and the best-performing stocks over the past year took some of the biggest losses Wednesday.

Amazon lost 6.2 percent and Netflix gave back 8.4 percent.

The Dow and the S&P 500, the benchmark for many index funds, lost more than 3 percent.

The 10-year yield is currently 3.20 percent, the highest in than seven years and up sharply form 2.82 percent in late August.

The S&P 500 lost 94 points, or 3.3 percent, to 2,785.

The Dow fell 831 points, or 3.1 percent, to 25,598. The Nasdaq fell 315 points, or 4.1 percent, to 7,422.

The post Dow Sinks As Tech Companies Swoon appeared first on 1470 WMBD.

SHARE

RELATED CONTENT

Pritzker To Sign Recreational Marijuana Bill Iran & US Negotiations Break Down; Sanctions Apparent  Brendt Christensen Convicted Of Killing Visiting Chinese Scholar Bradley Women’s Basketball Adds Assistant Coach Peoria’s 12th Homicide Victim Identified Peoria Women’s Club To Receive Renovations
Comments