Tech stocks slumped on Thursday while more than 300 S&P 500 constituents rose. Money moved into U.S. government bonds, and yields fell sharply, according to MarketWatch.
Tech shares sold off on Thursday, but the selling did not spread across the market. More than 300 stocks among the S&P 500 rose, MarketWatch reports, which points to a market that is splintering.
Money moves into Treasurys
At the same time, money rushed into U.S. government bonds, pushing yields sharply lower. Treasurys are rallying while tech stocks slump.
Investors were not only selling tech shares, which sets this move apart from earlier tech selloffs. The split in the S&P 500 leaves open whether it signals trouble ahead or a new set of winners.
Source: MarketWatch (snippet-based)
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