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.
SOURCE: Corrie Driebusch and Avantika Chilkoti
Wall Street Journal