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Weakness in Big Tech leads stocks lower in morning trading

KION

By DAMIAN J. TROISE
AP Business Writer

Stocks fell broadly in morning trading on Wall Street Tuesday, led by more declines in Big Tech companies. The S&P 500 fell 1.4% and the tech-heavy Nasdaq gave up 2%. Microsoft, Google’s parent company and Facebook were down between 2.5% and 3.3%. The weakness in tech came as bond yields continued to march higher, which tends to draw money out of stock sectors like tech that soared to lofty valuations. The yield on the 10-year Treasury note climbed to 1.55%, the highest since late June. Energy stocks bucked the downward trend and rose.

Associated Press

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