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Wall Street tumbles as tech stocks extend slide

Published by
Reuters

By Bansari Mayur Kamdar and Shreyashi Sanyal (Reuters) – Wall Street’s main indexes tumbled on Monday as heavyweight technology stocks dropped on expectations of a high interest rate environment, which pushed U.S. Treasury yields to fresh two-year highs and supported banks. Megacap companies including Apple Inc, Amazon.com Inc, Microsoft Corp, Meta Platforms Inc and Tesla Inc fell between 2.1% and 4.4% in early trading. The S&P 500 consumer discretionary, technology and communication services sectors, housing major growth companies, fell the most among the 11 major S&P sectors. The value-orien…

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