Wall Street had its worst trading day since 2020. That is mainly due to the yield on US government bonds with a ten-year maturity, which rose above 3.10 percent for the first time since November 2018.
The Nasdaq fell 5.06 percent to 12,850.55 points. For the Dow Jones, the loss was 3.12 percent to 32,997.97 points. The broader S&P 500 turned 3.56 percent in the red to 4,146.87 points. For example, Wednesday’s gains were wiped out entirely after the Federal Reserve announced its intention to raise interest rates by half a percentage point.
The technology companies in particular had to pay the price on Thursday. Tesla (-8.33 percent), Amazon (-7.56 percent) and Apple (-5.57 percent) all recorded red numbers.
There was good news for Twitter again. The share price rose 2.65 percent after Elon Musk announced it raised $7 billion from investors to fund his purchase of the platform.