For fear of over-valuing high-growth technology stocks, the indices on the New York Nasdaq stock exchange lost out on Monday. So the Nasdaq 100 fell by 2.63 percent to 13 223.74 points. When inflation expectations suddenly picked up and interest rates rose, investors fled those stocks that had done best, said analyst Jochen Stanzl from broker CMC Markets, explaining the wave of profit-taking in the technology sector.
The leading index, the Dow Jones Industrial, fared significantly better
, which surpassed its record high on Friday. At the end of the day, however, it was only enough for an increase of 0.09 percent to 31,521.69 points. The market-wide S&P 500 lost 0.77 percent to 3876.50 points./ajx/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0349 2021-02-22/22:15
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