Tech Weighs on Equities While Dollar Extends Rally: Markets Wrap

Greenback climbs to the highest level since November 2020
Fed chief renews assurance on inflation surge as temporary

WATCH: TPW’s Jay Pelosky sees the delta variant as a fading issue for markets, and he thinks we’ll see synchronized global expansion at the end of the year.Source: Bloomberg

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By Rita Nazareth and Vildana Hajric

September 28, 2021 at 9:44 PM UTC

Updated on

September 29, 2021 at 8:27 PM UTC

This article is for subscribers only.

Stocks pared most of their gains into the close as a rally in technology companies fizzled out.

The Nasdaq 100 notched its third straight day of losses after earlier climbing about 1%. Dip buyers helped push the S&P 500 higher, with defensive industries such as utilities and consumer staples among the best performers. The dollar rose to the highest level since November 2020, while Treasuries were little changed.