Wednesday, August 17, 2022
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Market – S&P 500 slips from record this Thursday

U.S. stocks fell on Thursday led by technology shares as a spike in bond yields fueled fears of equity valuations and caused investors to sell growth-focused high flyers.

The S&P 500 slid 0.6%, falling from a record closing high reached in the previous session. The tech-heavy Nasdaq Composite dropped 1.3% as Apple, Alphabet, Microsoft and Facebook all fell at least 1%. Tesla slipped more than 3%. The Dow Jones Industrial Average traded 70 points higher, supported by bank shares.

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