U.S. Tech Stocks Rally; Dollar Gains, Bonds Slide: Markets Wrap
- Nasdaq 100 leads rebound in American shares; oil steady
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U.S. technology shares led gains that sent benchmark equity indexes to fresh records, while hawkish comments from a Federal Reserve official boosted the dollar and Treasury yields.
The Nasdaq 100 Index jumped the most since November, as large-cap tech stocks rebounded from two weeks of declines, though not enough to recoup all of the losses that started June 9. The S&P 500 Index and Dow Jones Industrial Average ended at all-time highs. Treasuries fell after William Dudley said halting the tightening cycle now would imperil the economy. The dollar rose to the highest versus the yen since June 2, while gold slipped to a one-month low as haven demand ebbed.