The S&P 500 ended lower and the Nasdaq tumbled deep into negative territory on Monday after both earlier hit record highs following the announcement of a second term for Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average ended slightly higher. Climbing Treasury yields kept tech stocks broadly lower, with holdouts including Microsoft and Apple, which many investors view as relatively safe, giving up gains late in the session. The Dow Jones Industrial Average rose 0.05 per cent to end at 35,619.25 points, while the S&P 500 lost 0.32 per cent to 4,682.94. The Nasdaq Composite dropped 1.26 per cent to 15,854.76.
Local shares began the week on a more upbeat showing, as Singapore further eased its Covid-19 restrictions related to dining and social gatherings amid an improvement in overall infection numbers. Investors appeared slightly more optimistic, with the benchmark Straits Times Index gaining 0.2 per cent or 4.74 points to cap off Monday at 3,237.08. Across the broader market, however, decliners surged past advancers 282 to 190, after some 1.7 billion securities worth S$936.5 million changed hands.
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