Stocks fall broadly on Wall Street, led by tech, banks

Published January 18, 2022 9:40 AM

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks fell broadly and bond yields surged on Wall Street in afternoon trading Tuesday amid renewed jitters that the Federal Reserve will lift interest rates to tackle rising inflation. The S&P 500 fell 1.7%, the Dow Jones Industrial Average lost 1.4% and the Nasdaq sank 2.2%. Technology stocks and banks led the decline. Goldman Sachs fell after the investment bank reported a sharp drop in profits. Crude oil prices rose amid supply concerns following an attack on an oil facility in the capital of the United Arab Emirates. Activision Blizzard soared on news of a blockbuster buyout by Microsoft.

Article Topic Follows: AP National Business

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