Wall Street fell on the decline in Apple and Tesla stocks. Apple’s share price is down about 2% and Tesla is down more than 4%. Both stocks contributed the most to the S&P 500’s decline on Tuesday, March 2nd. In trading that ended this morning, the Dow Jones Industrial Average fell 0.46% to 31,391.52 points. The S&P 500 Index fell 0.81% to 3,870.29. Meanwhile, the NASDAQ100 Composite fell 1.69% to 13,358.79. The Russell 2000 Index is a small market cap stock index of 1.9%. This slump truncates 2021 gains to around 13%, compared to the S&P 500’s 3% increase in the same period. However, if you still want to trade in this stock index, we recommend you go to http://www.cnie.org/forex/nas100-brokers.html to find Brokers who help traders buy and sell the NAS100 stock index.
Tech stocks slumped as investors rotated out of the sector to other stocks that are expected to have recovering performance as post-epidemic economic activity increases. The S&P 500 consumer goods and staples sector index rose. Material stocks rose by the time investors stood by for the Congress of the US to authorize another package of stimulus.
The yield on the benchmark 10-year US Treasury bond is stable after hitting a one-year high last week. “Partly because technology improved tremendously last year, and if interest rates go up their future cash flows are less valuable,” said Tom Hainlin, a global investment strategist in the U.S. Bank Wealth Management told Reuters.
The S&P 500 acquired the biggest gain since June 2020 when stock markets recevied the authorization of a third of vaccine for COVID-19 in the USA and The US House of Representatives provide US $ 1.9 trillion coronavirus package of aid.
The US Senate will begin discussing President Joe Biden’s aid bill this week. Democrats intend to pass the law through a maneuver known as reconciliation.
The S&P 500 technology sector index fell 1.6%, extending its decline from late February after a sell-off in the US bond market sparked concerns over high-value stocks. The consumer goods index fell 1.3%, with Amazon’s stock dropping 1.6%.
Housing loan provider Rocket Companies jumped 71%. The stock, which has a large short position, rose for the third day in a row after attracting interest from the popular WallStreetBets on Reddit.