Stocks

Wall Street Review: Techs Sell Off Amid Profit-Taking, Rising Bond Yields

The Nasdaq Composite sank by more than 1,000 points on Friday, pushing the week down 4.68 percent.
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Wall Street Review: Techs Sell Off Amid Profit-Taking, Rising Bond Yields
Traders work on the floor of the New York Stock Exchange on June 4, 2026. Michael M. Santiago/Getty Images
Panos Mourdoukoutas
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Wall Street’s weekslong stock rally came to an abrupt halt this week amid a tech sell-off driven by profit-taking and rising bond yields, following another robust jobs report.

For the week, the Dow Jones Industrial Average edged down by 0.32 percent to close at 50,866. The S&P 500 fell by 2.59 percent to 7,383. The Nasdaq Composite sank by 4.68 percent, while the Russell 2000 dropped by 2.94 percent.

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Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”