Dow Slips for a 4th Day. Tech Stocks Rally.
The Dow Jones Industrial Average slipped for its fourth trading day in a row, as the blue-chip index missed out on a rally among large technology stocks.
The Dow was down 121 points, or 0.3%. The S&P 500 was up 0.4%. The Nasdaq Composite was up 1%. Don’t be fooled by the gains—a majority of S&P 500 stocks closed lower, but the ones that rose were heavy hitters.
The yield on the 2-year Treasury note was down to 4.269%. The 10-year yield was down to 4.378%. Yields retreated this morning as traders turned to Treasury bonds after Russia escalated geopolitical jitters by lowering its threshold for using nuclear weapons. After the U.S. indicated it wouldn’t respond to the move, a brief slide in stocks abated.