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March 5, 2021
Technology companies led another broad sell-off on Wall Street Thursday as a spike in bond yields put more pressure on the market's high-flying stocks.
The S&P 500 was fell 1.3%, its third straight loss. The benchmark index, which briefly dipped into the red for the year, is on track for its third consecutive weekly loss. Just four days ago it notched its biggest gain since June. That market rally was driven by what now appears to be a brief pause in the recent, swift rise in bond yields, which in turn pushes up interest rates on loans for consumers and businesses.
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