Sunday , April 11 2021

IT giants are sinking on Wall Street

Yields on U.S. 10-year government bonds climbed to a one-year high on Thursday: 1.5 percent. As a result, many Wall Street investors chose to make a gain on stocks that had previously risen sharply because they feared companies would be overvalued.

Three of New York’s top stock indexes went bankrupt, and all industries fell. Among the hardest hit were technology companies whose sector index lost 3.5 percent. Google’s parent companies Alphabet and Apple, for example, fell 3.3 percent and 3.5 percent, respectively. The exception was Twitter which grew by 3.7 percent.

The Dow Jones industry average fell 1.8 percent, the S&P 500 2.5 percent and the Nasdaq composite index 3.5 percent.

Corrected: In the earlier version, incorrect percentages for the leading stock exchange index were given.

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