{{featured_button_text}}
Financial Markets Wall Street

Replicas of Arturo Di Modica's "Charging Bull" are for sale on a street vendor's table outside the New York Stock Exchange. U.S. stocks moved broadly lower in morning trading Tuesday as investors again back away from technology companies. 

Major U.S. stock indexes closed mostly higher Tuesday, erasing much of an early slide, as investors favored smaller, U.S.-focused companies for the second straight day.

Industrial, energy and health care stocks helped power the market higher. Banks also notched solid gains amid a broad pullback in demand for U.S. government bonds, which pushed yields higher. The yield on the 10-year Treasury note climbed to 1.73% from 1.62% late Monday, a big move.

Keep reading for FREE!
Enjoy more articles by signing up or logging in. No credit card required.

For the second day in a row, traders unloaded technology stocks and shares in companies that rely on consumer spending. Microsoft dropped 1.1%, as did payment processors Visa and Mastercard, losing 2.8% and 3.9%, respectively.

"It seems like a complete reversal of what's kind of been the theme over the last few months, where it's been more about higher quality, higher market cap, higher growth, more stable growth and lower volatility," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. "Things that had been doing well just completely got sold and the things that had been lagging completely got bought."

Be the first to know

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.
0
0
0
0
0

Load comments