U.S. Technology Shares Drop, Treasuries Gain: Markets Wrap
- Semiconductors lead declines as Nasdaq sinks for third day
- Potential Trump tariffs announcement poses next hurdle
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U.S. stocks fell to a two-week low amid renewed selling in technology shares as the Trump administration eyed escalating the trade war and concerns mounted over flagging demand for computer chips. Emerging-market equities flirted with a bear market and Treasuries advanced.
The Nasdaq indexes retreated for a third day, as semiconductor shares paced declines on concern the sector will slow. Selling eased in afternoon trading, sending the Dow Jones Industrial Average to a gain. The S&P 500 ended lower. Facebook dropped a fourth day as the threat of tighter regulation loomed a day after tech executives testified before Congress. Mixed economic data ahead of Friday’s jobs report added to investor concern.