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Technology stocks are putting pressure on US indices.. Alibaba stock is soaring
Technology stocks are putting pressure on US indices.. Alibaba stock is soaring
The Nasdaq Composite Index is down for the second consecutive session
Alibaba stock rose to a 6-week high
US indices closed with collective declines in Tuesday's session, under pressure from technology stocks, after the statements of a major US regulator regarding troubled banks.
Michael Barr, the Fed's top bank regulator, told a Senate committee that the Silicon Valley bank did a "terrible" job of managing risk before it collapsed.
A survey also showed that US consumer confidence increased unexpectedly in March, but at the same time revealed that Americans are becoming somewhat concerned about the labor market.
Dow Jones
The Dow Jones index fell by 0.1%, or 38 points, after two consecutive sessions of gains, to close at 32,432 points.
The pressure came mainly from the health and technology sectors, which fell by 1.2% and 0.4%, respectively, in parallel with the rise in the US Treasury yield above 4% on Tuesday.
