Technology, bank stocks drag Wall St to new low for 2022
Technology, bank stocks drag Wall St to new low for 2022
By DAMIAN J. TROISE and ALEX VEIGA
Technology companies led a broad sell-off on Wall Street Tuesday as bond yields surged amid renewed jitters that the Federal Reserve will act more aggressively than expected to tackle rising inflation.
The S&P 500 fell 1.8%, with about 90% of the stocks in the benchmark index closing in the red. The Nasdaq, which is heavily weighted with technology stocks, slid…