Nasdaq, S&P 500 slide as higher yields hit growth stocks

The Nasdaq and the S&P 500 fell on Friday, dragged down by growth and technology stocks as U.S. Treasury yields surged at the end of a volatile week marked by concerns around aggressive moves by the Federal Reserve to tame inflation.

Source: www.reuters.com

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(Reuters) - U.S. stock indexes opened lower on Friday, dragged down by growth and technology stocks as U.S. Treasury yields surged at the end of a volatile week marked by concerns around aggressive moves by the Fed to tame inflation and the ongoing Ukraine conflict.

The Dow Jones Industrial Average fell 14.3 points, or 0.04%, at the open to 34569.24.

The S&P 500 fell 6.1 points, or 0.13%, at the open to 4494.15, while the Nasdaq Composite dropped 66.8 points, or 0.48%, to 13830.474 at the opening bell.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Shounak Dasgupta

08-04-2022

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