Wall Street fällt, da Tech-Aktien fallen; Goldman Sachs Ergebnisse führen zu Bankenrückgängen

By Bansari Mayur Kamdar and Shreyashi Sanyal

Jan 18 (Reuters) -Wall Street’s major indexes fell on Tuesday as big tech stocks were hit by rising Treasury yields, while Goldman Sachs (NYSE:GS) led losses among banks after missing its quarterly earnings estimates.

* At 1530 GMT, the Dow Jones Industrial Average was giving up 506.05 points, or 1.43%, to 35,393.69 units; the S&P 500 index was down 60.31 points, or 1.29%, to 4,603.39 units; and the Nasdaq Composite was subtracting 167.83 points, or 1.16%, to 14,721.81 units.

* Two-year bond yields, which track expectations for short-term interest rates, rose above 1% for the first time since February 2020 as traders positioned for the possibility that the Federal Reserve will tighten its tone ahead of its monetary policy meeting next week.

* Mega-cap firms such as Alphabet (NASDAQ:GOOGL), Apple (NASDAQ:AAPL), Meta (NASDAQ:FB), Amazon (NASDAQ:AMZN) and Tesla (NASDAQ:TSLA) were losing between 0.6% and 3.7%.

* Ten of the 11 major S&P 500 sectors were down in early trading. Strong growth indices such as technology and communication services led the losses.

* „Technology is going to be split between companies that make money today and those that promise to make money tomorrow,“ said Thomas Hayes of Great Hill Capital LLC in New York. „Companies that promise to make money tomorrow, but don’t make money today, are going to suffer big cuts.“

* Goldman Sachs plunged 8% after missing fourth-quarter profit expectations on weak trading activity, while BNY Mellon subtracted 1.1% after posting its quarterly results.

* The S&P 500 banking index declined 1.2% and the broader financial index slipped 1.6%. Energy was the only sector in the S&P 500 to advance, boosted by higher oil prices.