US technology stocks weaken due to the burden of rising interest rates… Facebook 2.91%↓

Large tech stocks weakened at the same time as interest rates rose sharply in the US New York Stock Market.

According to the stock market on the 20th, last night Facebook closed a 2.91% decline from the previous day. Amazon.com fell 2.35%, and Google’s parent company Alphabet also fell 0.81%. Netflix fell 1.46% and Microsoft (MS) fell 1.16%, respectively. Apple rose 0.12%.

The weakness in technology stocks is due to rising market interest rates. On this day, the 10-year Treasury bond yield reached 1.363% during the intraday, breaking the highest for a year. In a low interest rate environment, expectations for high growth in large technology stocks have emerged, but as interest rates rise, the relative investment attractiveness is falling.

Kiran Ganesh, a strategist at UBS Global Wells Management, said, “The biggest uptrend in the stock market over the past few months was the lack of competing assets.” I can do it.”

The stock market has also stalled as a brake on the rise of large technology stocks.

On the New York Stock Exchange last night, the Dow Jones 30 Industrial Average closed at 31,1494.32, up 0.98 points (0.0%) from the battlefield. The Standard & Poor’s (S&P) 500 index closed at 3906.71, down 7.26 points (0.19%) from the battlefield, while the technology stock-oriented NASDAQ index closed at 13874.46, up 9.11 points (0.07%).

The market expects further stimulus discussions to progress.

US Treasury Secretary Janet Yellen said, “It’s very important to push forward with a big package to alleviate (Americans’) suffering.”

The Democratic Party plans to pass a $1.9 trillion stimulus bill by the end of next week in the House of Representatives. In addition, there were reports that President Joe Biden could push forward a $3 trillion infrastructure investment bill after the stimulus was prepared.

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