Wall Street’s momentum stopped on Tuesday by investors withdrawal from technology stocks and when bond yields rise, new pressure on stocks.
Dow Jones’ industrial average was 114.83 points (0.27%and S & P 500 decreased 0.39%, winning six days.
NVIDIA, AMD, META, Apple, and Microsoft’s losses of Chipmakers and Megacaps, the NASDAQ composite slipped 0.38%. The technology sector fell by about 0.9%with the worst achievements of the S & P 500.
Following President Trump’s initial tariffs, the full back inherited the rebound for five weeks by adding more than 20% of S & P 500 at the lowest level in April. The index is now about 3% lower than ever.
Bill Northey of the US Bank Asset Management said, “We have been related to tariffs and intense meetings and now waiting for explanation.” It’s an unclear optimism. “
Meanwhile, the bond market has been added to anxiety. The 10 -year financial yield rose to 4.48%, while 30 years accounted for 5%in the highest two days since November 2023.
The rise is cited by Moody’s decision to downgrade the US debt while citing the lack of rise and citing interest expenses.
Stock evaluation
Analysts say that more than 4.5% yield tends to challenge stock evaluation. “When 30 years comes, does it mean that the rest of the curves are next?” Manulife’s Matthew Miskin said.
Morgan Stanley’s Michael Wilson noted that stocks continued to face evaluation when the 10 -year return was 4.5%.
In other places, Tesla rose 2% after reaffirming the promise that ELON Musk would maintain CEO for more than five years. In the political front, President Trump couldn’t beat the GOP holdout in the major tax bills, so he endangered the pass before the Memorial Day.