Market News / Story
IXIC — Nasdaq Slammed by 1.1% Drop as Yields Surge to Highest Level in 19 Years
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Technology stocks retreated from record highs as strong US activity revived rate-hike fears. Oil, Trump-Xi summit and another test of the AI trade now set the agenda. Record rally meets the bond market The Nasdaq Composite IXIC dropped 1.1% Wednesday to 26,936, retreating after two consecutive record closes. The S&P 500 lost 0.8%, the Dow shed 352 points and the Russell 2000 fell 1.8%, showing that smaller, rate-sensitive companies absorbed the greatest pressure.…