Tech tumble, lackluster GS earnings set to weigh on Wall Street – Reuters
- Date: 18-Jan-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Tech tumble, lackluster GS earnings set to weigh on Wall Street – Reuters
Jan 18 (Reuters) - Futures tracking the technology-heavy Nasdaq 100 index slumped almost 2% on Tuesday as traders returned from a long holiday weekend to position for a more hawkish Federal Reserve ahead of a policy meeting next week.
Rate-sensitive tech stocks came under pressure as two-year Treasury yields , which track short-term rate expectations, crossed 1% for the first time since February 2020.
U.S.-listed megacap tech companies including Google's Alphabet (GOOGL.O), Apple (AAPL.O), Meta (FB.O), Amazon and Microsoft (MSFT.O) were last down between 1.5% and 2.4% in premarket trading.
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