Tech Stocks Close Lower as Omicron Concerns Weigh On Markets

Tech shares led a selloff in the stock market, capping a volatile week of trading. The Nasdaq lost nearly 2%.

Stock Market Today, Wall Street

12/4/2021 12:03:00 AM

Tech shares led a selloff in the stock market, capping a volatile week of trading. The Nasdaq lost nearly 2%.

Major U.S. indexes gave up their strong early gains and turned lower, setting them on track to finish a bumpy week on Wall Street with losses.

Updated Dec. 3, 2021 4:08 pm ETMarkets ended a tumultuous week on an ominous note, with a broad technology-sector selloff sending the major U.S. stock indexes sharply lower and Treasury yields logging declines not seen since some of the worst days of the pandemic last year.

After a relatively placid stretch across financial markets, investors were confronted with several fresh worries over the past week. Many investors are expecting the Federal Reserve to raise interest rates next year after a prolonged period of keeping interest rates near zero, policies that have helped send major indexes to record after record over the past year. Federal Reserve Bank of Atlanta President Raphael Bostic said Thursday that the Fed should

, or tapering, of monthly bond purchases.

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