US Stocks Drop Amid Steep Declines in Technology

Tuesday, May 4, 2021 12:14 PM | MT Newswires

US stocks fell, with declines led by technology, and government bond yields retreated in midday trading on Tuesday.

The Dow Jones Industrial Average dropped by 0.5% to 33,940.14. S&P 500 dived by 1.2% to 4,143.22. Nasdaq slumped by 2.5% to 13,547.02. Among sectors, technology and consumer discretionary were among the steepest decliners while energy was the sole gainer.

The US 10-year yield fell by 1.9 basis points to 1.59% while the West Texas Intermediate futures surged by 1.8% to $65.65.

The dollar index climbed by 0.4% to 91.27 and gold slid by $17.6 per troy ounce to $1,774.20.

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