Tech stocks fall, yields climb on China reopening

Posted on AllSides January 3rd, 2023
From The Left

Tech dragged stocks lower as Treasury yields climbed, with markets digesting prospects for growth and inflation from China’s rollback of Covid isolation measures. The S&P 500 fell on thin volumes, with trading about 20% below the 30-day average. The tech-heavy Nasdaq 100 underperformed, dropping more than 1%. Tesla shares led losses as a report of a plan to temporarily halt production at its China factory rekindled fears about demand risks. Apple touched the lowest since June 2021 amid a slump in big tech. Southwest Airlines led declines in airline stocks...

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