Nasdaq Ends Sharply Lower; Rising Treasury Yields Sink Big TechEpoch Times, United States politics | The Epoch Times

Wall Street ended sharply lower on Monday (Oct. 4) as investors dumped Big Tech and other growth stocks in the face of rising Treasury yields, while concerns about a potential U.S. government debt default also fed caution. Apple, Microsoft, Amazon, and Alphabet, the U.S. stock market’s four most valuable companies, each dropped more than 2 percent. Facebook, the fifth most valuable company, slumped almost 5 percent after its app and its photo-sharing platform Instagram were down for thousands of users, according to outage tracking website Downdetector.com. U.S. Treasury yields rose as investors fretted about the lack of a debt ceiling fix in the U.S. Congress and looked ahead to the release this week of September employment data, which could pave the way for the tapering of Federal Reserve asset purchases. President Joe Biden said he cannot guarantee the government will not breach its $28.4 trillion debt limit unless Republicans join …Read More

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