An early-year tumble in major U.S. stock indexes has some investors searching for safety by dumping shares of high-growth technology stocks for stodgier businesses that pay shareholders cash, including banks, oil companies and telecoms.
Green Startups Stumble, Accelerating Selloff of Risky Stocks
Electric-vehicle startups and other green tech companies soared early last year. Now a wave of investigations, outside allegations and growing investor skepticism have sent shares down 75% or more for many of them.
Last week, investigations by boards of directors into top executives at two electric-vehicle makers led to management changes. A short seller alleged that a startup lithium producer’s technology doesn’t work. And an agriculture-technology company’s shares fell further after it wrote off most of the value of a recent acquisition.
Elevated Bond Yields Approach Key Milestone
Friday’s blockbuster jobs report has pushed the yield on the 10-year U.S. Treasury note within reach of 2%, marking a major step in the financial markets’ recovery from the pandemic.
With the release of one report on Friday morning, the U.S. economy looked much stronger to investors than it did minutes earlier, not only increasing the chances that the Federal Reserve could raise interest rates at a rapid clip this year but making it likelier that the economy could withstand such a move.
Putin Says the West Is Goading Russia Into War With Ukraine-and Many Russians Agree
Like many Russians, graduate student Anastasia Bukhteyeva hopes the current standoff between Russia and the West over Ukraine doesn’t erupt into a full-scale war.
But if fighting does break out, the 24-year-old is sure of one thing: It won’t be Russia’s fault.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
February 08, 2022 06:06 ET (11:06 GMT)
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