Technology companies led a broad sell-off on Wall Street Tuesday as bond yields surged amid renewed jitters that the Federal Reserve will act more aggressively than expected to tackle rising inflation. The S&P 500 fell 1.8 percent, with about 90 percent of the stocks in the benchmark index closing in the red. The Nasdaq, which is heavily weighted with technology stocks, slid 2.6 percent. The Dow Jones Industrial Average fell 1.5 percent. The major indexes’ losses have mounted this month as rising inflation and the virus pandemic’s latest surge cause investors to take caution. Heightened expectations of a rate hike from the Fed have kept Treasury yields rising. The 10-year Treasury hit 1.87 percent Tuesday, the highest since January 2020. It was at 1.77 percent late Friday. Investors are now pricing in a better than 86 percent probability that the Fed will raise short-term rates at its meeting of policymakers in March. A month …
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