The Colorado Springs Gazette final

Wall Street slips on tech stock weakness

A slide in technology and consumer-oriented companies helped pull stocks lower on Wall Street Tuesday, dragging the major indexes below the record highs they set a day earlier.

The S&P 500 fell 0.5%, snapping a five-day winning streak. The selling was most pronounced in technology and communication stocks, and in companies that rely on consumer spending. Traders shifted money into sectors seen as less risky, including utilities, health care and in companies that make household and personal goods.

Investors also bought bonds, sending the yield on the 10-year Treasury note down to 1.23% from 1.27% late Monday. Longterm yields have eased off from their sharp rise earlier in the year, but Wall Street is still worried about inflation.

Small company stocks also fell. The Russell 2000 index gave up 1.1%.

BUSINESS

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2021-07-28T07:00:00.0000000Z

2021-07-28T07:00:00.0000000Z

https://daily.gazette.com/article/281870121473182

The Gazette, Colorado Springs