Wall Street declined to its lowest level in two weeks as investor sentiment weakened due to a resurgence in selling pressure within the technology sector. The downturn reflected growing concerns over valuations in high-growth stocks, which have been particularly sensitive to shifts in interest rate expectations. Major indices registered notable losses, with the Nasdaq Composite experiencing a sharper drop compared to the Dow Jones Industrial Average and the S&P 500, underscoring the outsized influence of tech equities on overall market performance. Market analysts noted that renewed inflation data and cautious commentary from Federal Reserve officials may have contributed to the retreat, prompting traders to reassess near-term outlooks for monetary policy. Despite the pullback, some experts suggest that long-term fundamentals remain intact, though volatility could persist as investors navigate evolving economic signals.
— news from Reuters
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Wall Street drops to two-week lows as tech sell-off resumes Reuters