Tech Stocks Take a Fall as Market Momentum Stalls

Technology stocks took another leg down Friday, dragging the tech-heavy Nasdaq Composite to its worst week since early spring.

Investors sold many of the year’s best performing stocks, moving into so-called safety stocks such as utilities. The sentiment shift occurred as the stock market’s momentum appeared to stall in the face of suddenly higher long-term government bond yields.

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SOURCE: Corrie Driebusch and Avantika Chilkoti
Wall Street Journal