Facebook slumps, Rising Treasury Yields send Big Tech Down, Nasdaq Ends steeply lower
Monday, 4 October 2021 -
Dow Jones: -0.9% S&P 500: -1.3% Nasdaq: -2.1%
Investors turned their back to Big Tech and other growth stocks amid rising Treasury Yields and while they are also sceptical about the possibility of a government debt default, Wall street ended steeply down.
Amazon, Microsoft, Apple and Alphabet each end lower more than 2%, joined by Facebook that, after its app, Messenger and Instagram were down due to a major outage earlier at 5pm U.K. time.
Lack of a debt ceiling fix, sends U.S. Treasury yields higher.
Biden says cannot guarantee government will not breach debt limit of $28.4 trillion. The key vote of the Republicans to raise the limit, is needed, two weeks before a default.
(Written and edited by: The Decision Maker)