Nasdaq tumbles to correction territory after Powell comments

(Reuters) – Wall Street slumped on Thursday, leaving the Nasdaq down 10% from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields. The benchmark 10-year Treasury yield spiked to 1.533% after Powell’s comments, which did not point to

Wall Street ends sharply lower, tech selloff weighs as bond yields climb

NEW YORK (Reuters) – Wall Street’s main indexes tumbled on Thursday, with the Nasdaq index posting its largest daily percentage fall in four months, as technology-related stocks remained under pressure following a rise in U.S. bond yields. The Dow and the S&P 500 notched their biggest daily decline since late

Wall Street slides on tech selloff as bond yields rise

(Reuters) – Wall Street’s main indexes fell on Thursday, with the Nasdaq slipping about 2.5%, as technology-related stocks remained under pressure following a rise in U.S. bond yields.FILE PHOTO: The Wall St. sign is seen outside The New York Stock Exchange (NYSE) in New York, U.S., February 16, 2021. REUTERS/Brendan

Wall Street opens lower as tech shares fall

FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File Photo(Reuters) – Wall Street’s main indexes opened lower on Thursday, as heavyweight technology-related stocks remained under pressure with a rise in U.S. Treasury yields, while data showed weekly

S&P 500, Dow close higher in late session turnaround

NEW YORK (Reuters) – Wall Street reversed course late Tuesday, with the S&P 500 and the Dow whipsawing to positive territory by the closing bell in a tug-of-war between stocks that thrived amid lockdowns and those that stand to benefit most from a reopening economy. The Nasdaq was the only

HSBC curbs profit and payout ambitions, bets on Asia wealth

HONG KONG/LONDON (Reuters) – HSBC Holdings PLC on Tuesday abandoned its long-term profitability target, and unveiled a revised strategy focused mainly on wealth management in Asia after the COVID-19 shock saw its annual profits drop sharply. Citing the low interest rate environment and tough market conditions, HSBC ditched its goal

Wall Street closes flat as cyclicals shine, big tech falls

NEW YORK (Reuters) – Stocks on Wall Street closed near break-even on Friday as investors sold technology shares that have rallied through the pandemic and rotated into cyclical stocks set to benefit from pent-up demand once the coronavirus pandemic is subdued. Industrials led rising sectors in the S&P 500, spurred

Stimulus hopes lift futures to all-time highs

(Reuters) – U.S. stock index futures hit record highs on Tuesday with investors piling into economically sensitive stocks such as energy and banks on hopes of more fiscal aid to lift the world’s biggest economy from a coronavirus-driven slump.FILE PHOTO: The Fearless Girl statue is seen outside the New York

Wall Street headed for second straight weekly gain

(Reuters) – The S&P 500 drifted higher on Friday, recovering from early weakness as financial and materials stocks gained ground while investors held out for signs of progress on the next batch of fiscal aid.FILE PHOTO: Traders wearing masks work,on the floor at the New York Stock Exchange (NYSE) in

S&P 500, Nasdaq drift towards record highs as data fuels stimulus bets

(Reuters) – The S&P 500 and the Nasdaq rose on Thursday, just shy of record highs with investors betting on more fiscal stimulus to ride out a coronavirus-driven recession as data showed a stalling recovery in the labor market.FILE PHOTO: Traders wearing masks work, on the first day of in