Tech stocks in S&P 500 rise by 1.6pcBusiness | 15 May 2019 10:03 am
Investors on Tuesday returned to stocks of tech companies, which may have the most to lose from a protracted U.S.-China trade battle because many of their customers and suppliers are abroad. Tech stocks in the S&P 500 jumped by 1.6 percent, with semiconductor companies making particularly big gains.
A day earlier, tech stocks had taken the market’s heaviest losses.
On the flip side were utility stocks, which were the only one of the 11 sectors that make up the S&P 500 to fall. A day earlier, when all the fear in the market put an alluring spotlight on the utility sector’s steady profits and dividends, they had been the only S&P 500 sector to manage a gain.-AP