Technology stocks fell in US stock prices while Treasury yields jumped, as the market absorbed growth opportunities andinflation Which will result from China withdrawing isolation measures related to combating the virus Covid.
The “Standard & Poor’s 500” index fell in weak trading, which witnessed a decline in trading volume by nearly 20% from the 30-day average.
The performance of the “Nasdaq 100” index, which gives more weight to technology stocks, deteriorated by falling by more than 1%.
Tesla shares led the market losses following a report regarding a plan to temporarily halt production at its China factory reignited investor concerns regarding demand risks.
Shares of “Apple” company touched their lowest level since June 2021, amid a decline in major technology shares.
Shares of Southwest Airlines led the decline in the airline sector following canceled flights and a state of paralysis due to a massive winter storm that hit the United States.
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At the same time, the Dow Jones Industrial Average outperformed large companies, with an increase in the prices of companies including Verizon Communications and Caterpillar.
The 10-year Treasury yield jumped 10 basis points to the highest level since mid-November, following China moved toward ending its visitor quarantine.