Stocks edge lower as techs tumble again

|By:, SA News Editor

Stocks closed lower but well above early lows, as investors continued to chew on yesterday's Fed rate hike announcement and a report that Special Counsel Mueller had broadened his investigation of Russian interference in the U.S. election to examine whether Pres. Trump tried to obstruct justice.

The Nasdaq slid to its fourth decline in five sessions, as techs (-0.5%) dragged along the bottom of the day's leaderboard before recouping much of their early losses to finish just below the broader market.

Alphabet fell nearly 1% after being downgraded by analysts at Canaccord Genuity, while Facebook, Amazon, Apple and Netflix also closed lower.

Energy (-0.7%) wound up near the bottom of the sector standings, as crude oil slipped another 0.8% to $44.45/bbl following yesterday's bearish EIA inventory report; only the materials (-0.9%) sector fared worse.

Industrials (+0.6%) topped today's gainers, aided by strength from Dow components Caterpillar, GE and Boeing.

U.S. Treasury bonds spent the day unwinding some of yesterday's gains, with the 10-year yield climbing 3 bps to 2.16% while the two-year yield added 2 bps to 1.35%.

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