Technology stocks fell in US stock prices while Treasury yields increased as the market absorbed growth opportunities andinflation This will result from China lifting its isolation measures related to the fight against the virus Covid.
The ‘Standard & Poor’s 500’ index fell amid weak trading conditions, which saw trading volume drop nearly 20% from its 30-day average.
The performance of the “Nasdaq 100” index worsens, which gives greater weight to technology stocks, losing more than 1%.
Shares of Tesla led market losses after a report of a plan to temporarily halt production at its Chinese factory reignited investor concerns about demand risks.
Shares of ‘Apple’ company hit their lowest level since June 2021, as major tech stocks fell.
Shares of Southwest Airlines led the decline in the airline sector after canceled flights and a state of paralysis from a massive winter storm that hit the United States.
The cold freezes US pipelines and prevents supplies
At the same time, the Dow Jones Industrial Average outperformed large companies, with prices surging for companies including Verizon Communications and Caterpillar.
The 10-year Treasury yield jumped 10 basis points to its highest level since mid-November as China moved towards the end of the visitor quarantine.
