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NewsBreak: S&P 500 Sags on Rising Rates, Weakness in Tech Stocks

Investing.com

Investing.com - Stocks gave up morning gains this afternoon as some major technology stocks sagged and interest rates pushed higher.

Microsoft (NASDAQ:MSFT), Costco Wholesale (NASDAQ:COST), Alphabet (NASDAQ:GOOGL) and Facebook (NASDAQ:FB) were lower. Apple NASDAQ:AAPL) and Intel (NASDAQ:INTC) were higher.

At 2:10 PM ET (18:00 GMT) the S&P 500 was down 0.17%. The Dow Jones industrials were up 0.04%; the blue-chip index had been up as many as 103 points. The Nasdaq Composite was down 0.4%, while the Nasdaq 100 Index was off 0.52%.

The United States 10-Year Treasury yield rose to 1.615% from 1.55% on Friday. The United States 2-Year yield was at 1.567%, up from 1.528% on Friday.

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