Mar. 3, 2021
Good evening everyone! Welcome to a new episode of “Stocks Today”, explaining what forces moved the stocks in the U.S. equity market today (Wednesday, March 3, 2021).
All main indexes closed negative today, with the S&P 500 closing down 1.31%, the Dow Jones down 0.39% and the Nasdaq down 2.70%.
Why did the stock market move today?
Treasury yields jumped sensibly today, reaching almost 1.50% on the 10-years treasuries. This might be a consequence of investors betting on the new stimulus coming soon and on the traditional economy picking up. As a consequence, stocks from the tech sector suffered from a serious sell-off.
Stock of the day
After announcing that the last week of February was its best week in terms of volume of usage since the beginning of pandemic lockdowns, shares in Lyft (NASDAQ: LYFT) jumped 8.24% today.
That’s all for this Wednesday’s stock market update. Stay tuned to receive your daily update!