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US STOCKS-Nasdaq stumbles as bets shift from tech to banks
The Nasdaq was on pace for its biggest one-day drop in more than three months on Wednesday as investors bailed out of high-flying tech stocks and shifted bets to banks and other pockets of the market that could benefit from improving economic conditions, lower regulations and taxes, and higher interest rates. The S&P tech sector, which has propelled the market's record-setting rally this year, fell 2.7 percent and was on pace for its biggest daily drop in more than five months. Financials rose 1.7 percent, adding to Tuesday's gains and putting them on pace for their biggest two-day rise since just after the 2016 U.S. election of President Donald Trump.
https://finance.yahoo.com/news/us-stocks-nasdaq-stumbles-bets-195357125.html?.tsrc=rss
The Nasdaq was on pace for its biggest one-day drop in more than three months on Wednesday as investors bailed out of high-flying tech stocks and shifted bets to banks and other pockets of the market that could benefit from improving economic conditions, lower regulations and taxes, and higher interest rates. The S&P tech sector, which has propelled the market's record-setting rally this year, fell 2.7 percent and was on pace for its biggest daily drop in more than five months. Financials rose 1.7 percent, adding to Tuesday's gains and putting them on pace for their biggest two-day rise since just after the 2016 U.S. election of President Donald Trump.
https://finance.yahoo.com/news/us-stocks-nasdaq-stumbles-bets-195357125.html?.tsrc=rss
