Stocks Halt Rally With Wall Street’s Rebalancing: Markets Wrap
- Morgan Stanley, BofA distribute capital after stress tests
- Nike reports results that surpass analysts’ expectations
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Stocks fell after last week’s powerful rally, with investors rebalancing their portfolios in the final days of the quarter.
At the start of a week expected to be marked by fickleness and lack of conviction on a market trough, the S&P 500 had a hard time finding direction throughout most of the day. The tech-heavy Nasdaq 100 underperformed as Treasury yields climbed.