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US equities indices retreated from record highs, weighed down by a negative session for several large banking and Big Tech stocks.
The S&P 500 and Nasdaq Composite each closed 0.6 per cent lower on Monday, falling from peaks notched up on Friday.
Financials was the worst-performing sector in the S&P 500. Shares of heavyweight banks including JPMorgan, Bank of America, Wells Fargo and Morgan Stanley all shed more than 1 per cent.
Nvidia shares fell 2.4 per cent after China launched an antitrust probe into the semiconductor group. Among other Big Tech stocks, Amazon and Meta also closed lower.
Short-term Treasury yields, which move inversely to price, bounced from a five-week low. The yield on the policy-sensitive two-year note was up 0.03 percentage points at 4.13 per cent.
in HTML format to make it easy for teens to read and understand. Create appropriate headings and subheadings to organize the content. Ensure the rewritten content is approximately 1000 words. At the end of the content, include a “Conclusion” section and a well-formatted “FAQs” section.
Author: www.ft.com
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