NEW YORK – U.S. stocks ended down slightly on Tuesday, with investors selling tech-related growth shares after U.S. Treasury yields hit a 14-month high.
At the same time, the S&P 500 financials, industrials and consumer discretionary sectors rose, extending the recent rotation out of growth and into so-called value names.
Tech shares trimmed losses in afternoon trading with Treasury yields off the day’s high, but the S&P technology sector ended down 1% on the day and was the biggest drag on the S&P 500. The Nasdaq was on track for its first monthly loss since November following the recent rise in yields.
Tech stocks, which …
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