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Nasdaq ends sharply lower; rising Treasury yields sink Big Tech

The Dow Jones Industrial Average fell 0.94% to end at 34,002.92 points, while the S&P 500 lost 1.30% to 4,300.46

Wall Street | big tech stocks | Nasdaq

Noel Randewich | Reuters 

Wall Street ended sharply lower on Monday as investors dumped Big Tech and other growth stocks in the face of rising Treasury yields, while concerns about a potential US government debt default also fed caution. Apple, Microsoft, Amazon and Alphabet, the US stock market's four most valuable companies, each dropped more than 2%. Facebook, the fifth most valuable company, slumped almost 5% after its app and its photo-sharing platform Instagram were down for thousands of users, according to outage tracking website "For Big Tech, this is a short- to ...

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First Published: Mon, October 04 2021. 22:42 IST