News – USA – Tech stocks end lower on rising bond yields

The Nasdaq Composite fell sharply on Monday as rising bond yields and investor bets on further economic recovery weighed on tech stocks giants like Apple and Microsoft

The tech-heavy Nasdaq lost 34141 points, or 25%, to close at 1353305. The broad-based S&P 500 fell 3021, or 08%, to 387650, losing for the fifth straight session

The Dow Jones Industrial Average posted a slight gain, rising 2737 or less than 01% to 3152169

Tech stocks, which recently traded at record highs, saw sharp falls Microsoft, Apple and Amazoncom all fell between 2% and 3%, while electric automaker Tesla fell $ 6680 a share, or 85%, to $ 71450

Such stocks drove the US The stock markets rebounded from a coronavirus sell-off just under a year ago, and they’re also a favorite of retail investors who have amassed stock and options trading over the past year, but the rally has raised concerns that megacap tech stocks are overvalued what makes them prone to sudden break-ins

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