Wall Street

Wall Street set to open lower as tech rally loses steam

Published by
Reuters

By Devik Jain and Mehnaz Yasmin (Reuters) -Wall Street’s main indexes were set to open lower on Wednesday as a rally in technology and growth stocks from the previous session eased, while higher oil prices stoked worries of a further rise in global inflation. Microsoft Corp and Apple Inc edged 0.2% lower in premarket trading after gaining more than 1% each on Tuesday. The rate-sensitive growth stocks also came under pressure from elevated Treasury yields, with the benchmark 10-year back above 3%. Against the backdrop of rising borrowing costs, investor will this week squarely focus on the cons…

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