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U.S. Tech Stocks Rebound as Global Bond Rout Eases: Markets Wrap

  • Benchmark 10-year Treasury yields decline below 1.5%
  • Nasdaq 100 Index pares weekly loss, still worst since October
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Mohamed El-Erian, a Bloomberg Opinion columnist, says the Federal Reserve should do nothing during this bond rout.(Source: Bloomberg)
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U.S. tech stocks staged a modest rebound on the last day of a tumultuous week as a global bond rout eased, sending the yield on 10-year Treasuries tumbling below 1.5%.

Gains for Microsoft Corp. and Inc. helped lift the Nasdaq 100 about 0.6%. Energy producers and banks were among the worst performers, dragging down the Dow Jones Industrial Average. The dollar jumped for a second day, helping fuel a slump in commodities from oil to gold to copper.