World news – Technology weighs on Nasdaq and S&P 500 as they close lower | CAMEROON MAGAZINE: Cameroon news

NEW YORK, February 22 (Reuters). The S&P 500 and Nasdaq closed lower on Monday, as rising bond yields weighed down on large growth stocks again over fears of a revival in inflation.

The Dow Jones index rose 0.09% to 31,521.69. The S & P-500, on the other hand, lost 0.76% to 3876.84 and the Nasdaq Composite 2.45% to 13,534.50 points, which was influenced by the decline in tech stocks.

Equities are suffering again from the rise in bond yields as there are concerns that a normalization of economic life could lead to an uncontrolled spike in inflation and a tightening of monetary policy by central banks.

The 10-year-old American hit an annual high of 1.394% in the meeting, before dropping to around 1.37% returned.

However, some analysts note that this decline is not much of a surprise after the sharp rise in stocks last year and since the start of 2021.

“This is a slight correction, largely because stocks are overheating a bit. Suddenly there are people making a mountain of nothing, ”said Brian Reynolds, chief market strategist at Reynolds Strategy.

Federal Reserve Chairman Jerome Powel I will likely reaffirm, during his congressional hearings this week, his commitment to maintain very accommodative policies for as long as necessary.

Apple, Netflix, Amazon, Microsoft and even Tesla continue their downward trend that started last week.

In contrast, media giant Discovery Inc jumped after announcing that it would have 12 million paying subscribers worldwide for its streaming service by the end of February.

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