Morning Report 25 Mar 21: US sharemarkets eased on Wednesday

Investors responded to the positive testimony by the US Federal Reserve chair Jerome Powell and Treasury Secretary Janet Yellen to the Senate Banking Committee. But while financials, industrials and energy rose, technology shares eased. Shares in Intel fell 2.3% on news that it plans to spend as much as $20 billion to build two factories in Arizona. Shares in Apple fell 2.0% with Facebook down 2.9%. The Dow Jones index fell by 3 points or less than 0.1% after being up 364 points earlier. The S&P 500 index fell by 0.6%. And the Nasdaq index fell by 266 points or 2.0%.

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