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Tech shares drag Nasdaq sharply lower as Dow ekes out a positive finish

Tech-related shares sank Monday, dragging the Nasdaq Composite to a sharply lower finish and weighing on the S&P 500, while the more cyclically oriented Dow...

Tech-related shares sank Monday, dragging the Nasdaq Composite to a sharply lower finish and weighing on the S&P 500, while the more cyclically oriented Dow Jones Industrial Average finished in positive territory. Rising bond yields were blamed for pressure on more growth-oriented sectors, highlighting concerns about stretched valuations, as investors prepare for stronger economic growth on hopes vaccine rollouts and significant fiscal stimulus will boost growth. The tech-heavy Nasdaq COMP, -2.46% fell around 341 points, or 2.5%, to close near 13,533, according to preliminary figures, while the S&P 500 SPX, -0.77% lost around 30 points, or 0.8%, to end near 3,877, for its fifth straight losing session. The Dow DJIA, +0.09% held on to a gain of around 29 points, or 0.1%, finishing near 31,523.

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