Mega-cap stocks Apple, Alphabet and Amazon.com fell between 1% and 1.5% on higher US Treasury yields.
These declines caused Consumer Discretionary and Technology to be the worst performers of the major S&P 500 sector indices. However, sectors closely linked to the economy, such as industrial, materials and energy, advanced and helped the Dow Jones to show gains.
US-listed shares of Chinese companies including JD.Com Inc, Alibaba Group Holding Ltd and Pinduoduo Inc rose between 2% and 3.8%.after China said it will stop requiring travelers to enter a quarantine from January 8.
The Dow Jones Industrial Average was up 133.48 points, or 0.4%, at 33,337.41, while the S&P 500 was down 4.22 points, or 0.1%, at 3,840.60. The Nasdaq Composite was down 83.89 points, or 0.8%, at 10,413.97.
The S&P 500 and Nasdaq are down about 5.7% and 9%, respectively, so far in December and are on track for their biggest annual decline since 2008, as monetary policy tightening raised fears the economy was headed for recession.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
