Wall Street Loses Ground Under Pressure From Rising Oil Prices, More Swings for Big Tech Stocks
A sharp selloff in megacap technology shares and a jump in oil prices pushed the market lower, with the 10-year Treasury yield edging higher.
- The Dow Jones Industrial Average fell 594 points, or 1.1%, as rising oil prices and technology stocks weighed on markets, with the broader index declining for a second consecutive day.
- Brent crude rose 2.7% to $116.24, having surged from less than $97 at the start of October and reaching its highest level since March, weighing heavily on the broader market.
- Several AI-related companies continued to weigh on the market; Meta Platforms fell 0.5% and Amazon fell 0.6%, though Micron Technology gained 3.5% and Nvidia gained 0.3%.
- The Nasdaq fell 0.1% and is headed for a weekly loss, while the yield on the 10-year Treasury edged higher to 5.00% from 4.96% late Thursday.
- France's main index fell 0.9% amid the broader downturn, while yields on French government bonds eased slightly, reflecting divergent international market pressures.
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14 Articles
At around 1400 GMT, the Dow Jones was down 1.02%, the Nasdaq index - with a high technological colour - was down 0.12%, and the expanded S&P 500 index was down 0.42%. "Good buys remain limited in the wake of the sharp correction of technological values," comments Patrick O'Hare, an analyst at Briefing.com. The day before, "Nasdaq had its worst session since June" after Meta (Facebook, Instagram) rekindled concerns about the increasing costs asso…
Rising oil prices and concerns about technological values continue to weigh on American markets. ...
Wall Street opens the session this Friday, October 23 down. S&P 500 drops to 0.50% for the 7.625.36 points, Nasdaq devalues 0.34% for the 25.920.26 points, and Dow Jones breaks 1.04% for the 52.316.48 points. Wall Street starts down, prolonging yesterday's significant losses [October 22] that felt in the technology sector. While waiting for preliminary industry and services data in the United States in October, investors are going to be fearful,…
Index values on the New York Stock Exchange Wall Street fell under the weight of increasingly expensive oil and weakness in several high-tech companies. The S&P index fell 0.5 percent, extending the previous day's decline, and is on track for its second straight weekly loss. The Nasdaq fell 0.1 percent and also [...]
Wall Street indices are falling on Friday, as investors feel particularly uncomfortable amid the massive sell-off in the technology sector and the worrying rise in oil,
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