The Nasdaq Composite fell in early trading Wednesday as tech stocks resumed their sell-off, even as the Dow and S&P 500 climbed on falling bond yields. Semiconductor names led the tech decline, while healthcare and materials stocks advanced.
The Nasdaq Composite fell in early trading Wednesday as tech stocks resumed the sell-off that started a day earlier. The Dow and S&P 500 moved the other way, buoyed by falling bond yields after the US Treasury Department stepped in to support buybacks of long-dated securities.
The tech sector faced renewed selling pressure as semiconductor stocks continued to slide, led by declines in shares of Intel, AMD, and Broadcom. Healthcare stocks moved opposite the tech names, rising on a 124% gain in Moderna after positive Phase 3 trial results for its melanoma vaccine developed with Merck.
Basic Materials stocks also advanced, as gold futures surged while gold miner stocks broadly rose.
Notable stocks drawing reader attention Wednesday morning included Micron, Marvell, and Alphabet.
Source: Yahoo Finance
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