NEW YORK (dpa-AFX) – The pattern of the past few days on the US stock market was repeated on Friday: Another sharp rise in yields on the bond market put technology stocks under pressure, while the Dow Jones Industrial continued its record hunt for the fifth day in a row. At the end of the day, the leading index posted an increase of 0.90 percent to 32,778.64 points and thus crowned a strong week that brought it an increase of more than four percent.
Investors currently see catch-up potential in standard stocks, cyclicals and stocks of the “old economy”. The rising yields, however, have been troubling the highly valued technology stocks for some time. On Friday the Nasdaq 100 lost 0.89 percent to 12,937.29 points. Tech values also slowed down in the S&P 500, the index made little progress with plus 0.10 percent to 3943.34 points./ajx/fba
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