Hip stocks have been among the worst casualties of the tech sell-off, down 22% so far this year compared to the 13.5% decline in Nasdaq
The Dow Jones Industrial Average was up 11.89 points, or 0.03%, at 34,595.46, the S&P 500 was down 17.23 points, or 0.38%, at 4,482.98
Bond yields slipped from multi-year highs on Thursday, offering some respite to equities after US Fed minutes released previous day reinforced the rate-hike momentum already priced into markets
Gold prices steadied on Wednesday with concerns over high inflation offsetting expectations of an aggressive interest rate hike by the US Federal Reserve
High-growth stocks, whose valuations stand to be pressured by higher bond yields, bore the brunt as the benchmark 10-year yield hit a three-year high
The materials index, which includes miners and chemical companies, dipped 0.4%; the spread between US 2-year and 10-year Treasury yields moved another step closer to inversion
S&P 500, Nasdaq eye second straight weekly gain; financial, energy among top S&P 500 weekly sectoral gainers
FedEx falls on lower-than-expected quarterly earnings; Moderna up on seeking FDA authorisation for second booster
Asian stocks surged Thursday while European markets opened lower after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries. Oil prices rose more than USD4 per barrel. London and Frankfurt and Wall Street futures sank. Hong Kong's market benchmark jumped more than 7per cent and Tokyo gained 3.5per cent. Shanghai, Seoul and Sydney advanced. Wall Street's benchmark S&P 500 index rose 2.2per cent after the Fed raised its short-term lending rate by 0.25 percentage points on Wednesday. The widely anticipated change was less than the 0.5 percentage point hike advocated by some officials. "Far from choking off growth, the start of the Fed tightening cycle seems to have been greeted warmly," Chris Turner and Francesco Pesole of ING said in a report. Investors are cheering measures to address high inflation. In early trading, the FTSE 100 in London lost 0.1per cent to 7,283.28 and the DAX in Frankfurt .
Meta shares drop as Russia opens criminal probe; all three major indexes tracking weekly losses
Reflecting a defensive mood on Wall Street, the S&P 500 utilities index rallied 1.9% and real estate added 1.1%
The Nasdaq Composite dropped 1.65% to 13,525.13
The S&P 500 fell 44.39 points, or 1.01%, to 4,340.26, the Nasdaq Composite slipped 81.87 points, or 0.60%, to 13,612.75
The Dow Jones Industrial Average fell 282.93 points, or 0.85%, to 32,848.83
Dow set to confirm correction territory; oil stocks jump as crude tops $100/barrel
S&P 500 stock futures rose 0.5%. Nasdaq futures gained 0.3%, having been down more than 1%. U.S. markets are on holiday on Monday, but futures still traded
The formation occurred in June 2000 when the dot-com bubble burst and again in January 2008 ahead of the global financial crisis
S&P 500 was down 55.33 points, or 1.24%, at 4,419.68, and the Nasdaq Composite was down 177.35 points, or 1.26%, at 13,946.75
Woodside Petroleum surged 4.1% as the oil and gas explorer said its annual profit more than tripled
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