S&P 500 Declines Slightly Amid Tech Stock Slump Despite Drop in Treasury Yields
The S&P 500 fell slightly on Monday as declines in key technology stocks, particularly chip manufacturers, overshadowed a drop in Treasury yields. The Nasdaq Composite dropped more than the broader market at -0.5%, while the Dow Jones Industrial Average rose modestly by 0.2%. Major semiconductor companies like Micron Technology and Advanced Micro Devices saw significant losses of over 3% each. Treasury yields fell after reports that the Treasury may use its General Account to fund a buyback operation, reducing the yield on the 10-year note below 4.7%. However, global bond rates remain high in countries like Japan, France, and Germany, contributing to investor anxiety over inflation risks from potential U.S.-Iran tensions. Market sentiment was further affected by President Donald Trump's announcement of a significant tariff increase on Canadian automotive imports starting January 2027.
Tickers: $AMD $AVGO $CAT $COHR $EXPE $GLW $LITE $MU $SNDK $STX $WDC
Topics: bond market S&P 500 semiconductors technology stocks Treasury yields