- Tech, banks stocks drag indexes down
- Treasury yields rise
- Gold, crypto sells off
- Oil dips in choppy trading
Aug 19 (Reuters) – U.S. stocks fell and the dollar rose on Friday, even as Treasury yields gained, with traders anxious about inflation and what the Federal Reserve will do to combat it.
With higher rates looming, large technology stocks such as Amazon.com Inc (AMZN.O) and Alphabet Inc (GOOGL.O) fell more than 2%. Major banks such as JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), and Deutsche Bank AG (DBKGn.DE) declined more than 2%, a reversal of the sector’s late-summer rebound. And an earnings miss by heavy equipment maker Deere & Co. (DE.N) added to the risk-off mood. read more
The Dow Jones Industrial Average (.DJI)fell 0.86%, to 33,706.15, the S&P 500 (.SPX)lost 1.29%, to 4,228.37, and the Nasdaq Composite (.IXIC) dropped about 2%, to 12,705.22.
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