NEW YORK – The S&P 500 and the Nasdaq fell on Monday as rising Treasury yields and the outlook for rising inflation sparked problems for high-growth companies

The Dow index, on the other hand, was higher, boosted by a 5% gain in Walt Disney Co

US benchmark 10-year Treasury yields rose 136% on Monday Since the start of February, 10-year yields have risen by around 26 basis points, on track for their biggest monthly increase in three years

“Investors are a little worried about the rapid rise in Treasury yields and it has been a pretty rapid move in a short period of time,” said Lindsey Bell, chief investment strategist at Ally Invest, in Charlotte, North Carolina

“What investors are grappling with… is what it means from an inflation point of view Because of that, there is a bit of anger in the market right now,” a- she added

Federal Reserve Chairman Jerome Powell is due to speak to the Senate Banking Committee on Tuesday, and investors should look for any potential changes in the central bank’s accommodative outlook in recent months

Shares of Apple Inc, Microsoft Corp, Alphabet Inc, Tesla Inc and Amazoncom Inc resumed their slide from the previous week, falling between 09% and 5%

The largely bullish fourth quarter results had propelled major Wall Street indices to record highs earlier last week, but the rally lost momentum, in part due to fears of a possible hitch in US vaccination efforts and inflation problems emanating from a series of stimulus measures

In afternoon trading, the Dow Jones Industrial Average rose 13,726 points, or 044%, to 31.63158, the S&P 500 lost 83 points or 021%, to 389841 and the Nasdaq Composite fell 19,570 points, or 141%, to 13,678,776

The S&P 500 was on track for a five-day losing streak, its worst in a year

Value stocks outperformed growth stocks in February, with investors betting on a rebound in industrial activity and a pickup in consumer demand as countries roll out vaccines to tame the pandemic

Industrial and financial sector S&P 500 rose 08% and 11%, respectively, while energy stocks jumped 45% on rising oil prices [O / R

Discovery Inc jumped 95% after the media company said it expected 12 million paid streaming subscribers worldwide by the end of February, with coronavirus restrictions keeping people at home

Kohl’s Corp gained 79% after a group of activist investors named nine directors to the department store chain’s board of directors

Principal Financial Group Inc added 88% after a media report that activist investor Elliott Management Corp took a stake in the life insurance company and planned to push for changes

Rising issues outnumbered declining issues on the NYSE by 1Report from 14 to 1; on Nasdaq, at 1 Ratio of 17 to 1 favoring declines

The S&P 500 posted 71 new highs in 52 weeks and no new lows; the Nasdaq Composite recorded 252 new highs and 10 new troughs (Reporting by Gertrude Chavez-Dreyfuss in New York Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru edited by Matthew Lewis)

Sign up for daily news from the Financial Post, a division of Postmedia Network Inc

A welcome email is on its way If you don’t see it, check your junk folder

Postmedia is committed to maintaining a lively but civil discussion forum and encourages all readers to share their views on our articles Comments may take up to an hour for moderation before appearing on the site. ask you to keep your comments relevant and respectful We have enabled email notifications You will now receive an email if you receive a reply to your comment, an update to the discussion thread you follow, or if a user is following you comments. See our community guidelines for more information and details on how to adjust your email settings

© 2021 Financial Post, a division of Postmedia Network Inc All rights reserved Unauthorized distribution, transmission or reproduction is strictly prohibited

This website uses cookies to personalize your content (including advertisements) and allows us to analyze our traffic Learn more about cookies here By continuing to use our site, you agree to our terms of use and our privacy policy

Nasdaq, s&p 500

News from around the world – CA – Fall of the Nasdaq, S&P 500, pressured by rising US Treasury yields

Source: https://financialpost.com/pmn/business-pmn/nasdaq-sp-500-fall-pressured-by-rising-u-s-treasury-yields