[New York Stock Market] Falls for Second Straight Day as Treasury Yields Surge; Semiconductor Stocks Strong

[Financial News]  

The three major indexes in the New York stock market remained weak for a second day on the 29th (local time). Investor sentiment weakened as the 30-year Treasury yield broke above 5.6%, setting a new 24-year high amid surging U.S. Treasury yields.
However, semiconductor stocks were generally strong.

The three major indexes fell for a second straight day, although the declines were limited.
The Dow Jones Industrial Average fell 130.52 points (0.25%) from the previous session to close at 51,350.99, while the S&P 500 dropped 12.85 points (0.17%) to finish at 7,670.84.
The Nasdaq closed slightly lower, falling 22.84 points (0.09%) to 26,797.54.
By contrast, the Nasdaq-100, which comprises 100 large technology stocks, rose 62.52 points (0.21%) to 30,339.33.
TQQQ, a leveraged exchange-traded fund (ETF) that tracks three times the Nasdaq-100's daily movement, gained $0.53 (0.69%) to close at $77.57.

Semiconductor stocks were generally strong.
Micron Technology rose $17.31 (1.64%) to $1,071.29, while SanDisk gained $16.87 (0.98%) to $1,729.76.
SK hynix's American depositary receipt (ADR) jumped $4.76 (2.62%) to $186.68, while Advanced Micro Devices (AMD) rose $2.87 (0.47%) to $610.74.
By contrast, chip leader NVIDIA fell $0.84 (0.37%) to close at $228.02.
The Philadelphia Semiconductor Index (SOX) rose 163.92 points (1.32%) to close at 12,629.16. SOXL, a leveraged ETF that tracks three times the index's daily movement, climbed $5.00 (3.51%) to $147.29.

Big tech stocks showed mixed performance.
Tesla fell $4.63 (1.30%) to close at $352.82, while SpaceX surged $3.77 (2.59%) to $149.24. Microsoft (MS) finished up $1.94 (0.38%) at $511.16.
Alphabet fell $1.85 (0.54%) to $340.90, while Apple slid $9.00 (2.66%) to $329.40.
Palantir Technologies also closed down $0.51 (0.27%) at $186.97.

[email protected] Song Kyung-jae Reporter