Technology, bank stocks drag Wall Street to new low for 2022

NEW YORK: Technology companies led a broad sell-off on Wall Street Tuesday as bond yields surged amid renewed jitters that the Federal Reserve will act more aggressively than expected to tackle rising inflation. The S&P 500 fell 1.8%, with about 90% of the stocks in the benchmark index closing in the red. The Nasdaq, which … Read more

Nasdaq hammered as US stocks resume sell-off

NEW YORK: Wall Street stocks were back under pressure Thursday after two up sessions, with tech shares diving on expectations for higher interest rates. With Federal Reserve officials vowing to focus on inflation as a top priority, investors are quickly readjusting their forecasts. Art Hogan, chief strategist at National Securities, said many growth-oriented tech stocks … Read more

Wall Street closes higher after Powell testimony eases investors’ concerns

NEW YORK: US stock indexes gained ground on Tuesday with Nasdaq leading the advance as investors were relieved that Federal Reserve Chair Jerome Powell‘s testimony to Congress did not include any major surprises. Federal Reserve Chair Jerome Powell, in a congressional hearing that pointed to his likely confirmation for a second term in the job, … Read more