Tech Rally Ensures Mere Loss for Stocks, Not Rout: Markets Wrap
- Yield on 10-year Treasury note drops to lowest since August
- Huawei CFO arrest among catalysts as sell-off runs most of day
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U.S. equities closed up from the lows of the day after a late rally in large technology stocks helped to propel the Nasdaq 100 higher in what was the biggest reversal for the index since April.
The S&P 500 and Dow Jones Industrial Average ended in negative territory. Financial markets remained volatile on bets that the trade truce between China and the U.S. won’t last after the arrest of Huawei’s chief financial officer. Bank shares in the S&P 500 fell as much as 3.9 percent before closing down 1.4 percent, as Treasury yields slid to the lowest since August.