NEW YORK, United States -A rally in tech shares ran out of steam Tuesday, as US stocks mostly retreated amid worries over higher Treasury bond yields that offset investor appetite to keep buying equities.
European and Asian stocks pushed higher, following up on Monday’s session in New York, which saw the tech-focused Nasdaq surge.
The Nasdaq eked out a 0.1-percent gain on Tuesday, but both the Dow and S&P 500 retreated.
“Today it’s a sober mindset,” said Interactive Brokers strategist Steve Sosnick.
He added that Monday’s rally in tech shares was probably “overenthusiastic” in light of rising bond yields.
Stocks have been under pressure in August, most recently due to …
Keep on reading: US stocks mostly fall as tech rally peters out