Stocks Drop as Tech Gets Hit, Bonds Rise on Korea: Markets Wrap
- Tech shares lead equity decliners, oil, gold and dollar climb
- Euro falls as Germany prepares coalition talks after election
Strategist Sharma Says Global Sentiment Is Turning
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U.S. stocks fell as selling in large-cap technology shares intensified, while Treasuries advanced with gold after North Korea ratcheted up tensions with America.
The Nasdaq 100 Index posted its steepest loss in five weeks, with the FANG cohort of megacaps leading declines. Small-cap shares fared better as investors continued to rotate into the year’s laggards. Haven assets advanced after North Korean Foreign Minister Ri Yong-Ho described President Donald Trump’s recent comments as tantamount to a declaration of war.