Rising interest rates suppress the stock market, with technology stocks leading the decline😿
The higher-for-longer interest rate narrative continues to weigh on the stock market, especially for high-growth industries and companies with poor earnings, with SPX falling yesterday led by technology stocks (-1%) and consumer stocks (-1.6%), energy It was the only sector that rose yesterday; Citigroup's "Unprofitable Technology Stock" Index fell 3.3% yesterday, and the Russell 2000 Index fell for 8 consecutive trading days, falling to its lowest level since July.
