Nasdaq 100 Rebounds to Snap Rout Even With Big Tech Divided
- Tech stocks have been pressured by a rise in Treasury yields
- Amazon and Meta Platforms drop, while Alphabet gains
Shelves of merchandise at an Amazon fulfillment center in Robbinsville, New Jersey.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Shares of technology and internet stocks staged a comeback on Monday, with the Nasdaq 100 Index closing up 0.1% after dropping as much as 2.7% earlier as investors continue to monitor rising Treasury yields.
Megacap tech names were mixed, while semiconductor and software stocks rose after erasing earlier losses. The move comes as some investors consider whether it’s time to start buying the dip in U.S. equities. Monday’s gain snaps a four-session streak of declines for the tech-heavy Nasdaq 100, though the S&P 500 Index still closed lower.