US Stock Rally Hits Wall as Tech Shares Weigh on Indexes
The US stock market rally hit a wall as technology shares weighed heavily on the indexes. After early gains that pushed the indexes to new record highs, the market retreated, with the tech sector leading the decline. This selloff in tech stocks offset the positive momentum in other sectors, causing the overall market to end the day in negative territory. The shift in investor sentiment was driven by concerns about the valuations of tech companies and the potential impact of rising interest rates on their growth prospects. Despite the setback, the market remains in a strong position overall, with investors closely monitoring the economic recovery and the Federal Reserve's monetary policy decisions.
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