Stock market optimism falters; higher U.S. yields hit tech stocks

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Reuters

LONDON (Reuters) – The optimism with which markets started the year showed signs of waning on Wednesday, with European stock indexes mixed following a weaker Asian session that saw higher U.S. Treasury yields hurt technology stocks. With investors expecting the Federal Reserve to begin hiking interest rates as early as March, U.S. Treasury yields jumped on Monday and Tuesday. But on Wednesday they pulled back slightly, with the U.S. 10-year yield at 1.6473% at 0847 GMT, compared to the previous session’s peak of 1.686%, which was the highest since late November. The shift in market focus back …

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