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Tech stocks tumble as investors fret over spending

Oil prices moved above $100 a barrel and Treasury yields rose ahead of next week’s Fed meeting.

Reported · Written up by our desk · Equities

Tech shares fell sharply as investors weighed concerns about spending, a dynamic reflected in a broad selloff in technology equities, according to WSJ Markets.

The same market session also saw oil prices cross above $100 a barrel, a move that adds pressure to rate expectations and broader costs.

Treasury yields rose ahead of the Federal Reserve meeting scheduled for next week, signaling markets are positioning for potential changes to the policy outlook.

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