Tech weakness and sliding oil prices drag Wall St lower – Reuters

In a turbulent day of trading on Wall Street, major stock indexes ended lower on Tuesday as weakness in the technology sector and a continued slide in oil prices weighed on investor sentiment.

The tech-heavy Nasdaq led the losses, dropping 0.6% as shares of companies like Apple, Microsoft, and Amazon all closed in the red. The S&P 500 also fell 0.4%, while the Dow Jones Industrial Average slipped 0.3%.

Investors were spooked by rising concerns over inflation and the Federal Reserve’s upcoming decision on interest rates, which are expected to rise sooner than previously anticipated. This led to a sell-off in high-growth tech stocks, which are typically more sensitive to changes in interest rates.

Meanwhile, oil prices extended their recent slide, with U.S. crude falling below $70 a barrel for the first time in over a month. The decline was driven by fears of a slowdown in global economic growth and increased supply from OPEC+ countries.

Despite the overall negative sentiment on Wall Street, some analysts remain optimistic about the long-term outlook for stocks. They point to strong corporate earnings and a recovering economy as reasons for continued bullishness in the market.

However, for now, investors are bracing for more volatility as they navigate the uncertainties surrounding inflation, interest rates, and geopolitical tensions.