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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)


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