NEW YORK (dpa-AFX) – Further rising yields on the bond market and the associated concerns about the economy once again put interest-sensitive technology stocks under pressure on Friday. The tech-heavy Nasdaq 100 fell 0.86 percent to 14,406.37 points.
The default value indices, on the other hand, moved only slightly. The Dow Jones Industrial increased by 0.18 percent to 34,645.00 points. The broader S&P 500 was down 0.24 percent to 4489.24 points.
The bond markets are currently dominated by monetary policy in particular. A series of rate hikes is expected from the Federal Reserve this year to combat high inflation. In addition, the Fed wants to start reducing its trillion-dollar balance sheet as soon as possible.
Both developments are causing interest rates to rise sharply on the capital markets. Risky assets like stocks suffer as fixed income bonds become increasingly attractive. In addition, it is feared that sharply rising interest rates will make loans significantly more expensive for companies and consumers, thus slowing down economic growth./la/he
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