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Tech Snaps 3-Day Skid But Stocks Can't Hold Gains: Markets Wrap

  • Treasury yields slip from 7-year high, dollar and oil climb
  • Shares in Europe, emerging-markets reverse steep declines
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Bloomberg’s Elena Popina discusses the factors behind Tencent Holdings Ltd.’s drop.(Source: Bloomberg)
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Technology stocks rebounded from a three-day rout but failed to lead the broader market higher, while yields on Treasuries retreated from a seven-year peak amid rising trade tensions and a sketchy outlook for global growth. The dollar drifted lower and crude hovered around $75 a barrel.

The Nasdaq 100 Index, which lost nearly 4 percent over the previous three sessions, rose despite giving up much of a 1 percent increase earlier in the day. The S&P 500 Index turned lower on a 3.4 percent decline in materials shares, the worst performing group in the stock market, after a leading coatings maker warned that profits would fall short of analyst forecasts.