Morning Report 31 Mar 21: US sharemarkets fell on Tuesday

Mega cap technology shares came under pressure from rising bond yields. Shares of Apple (-1.2%) and Microsoft (-1.4%) both fell. Wells Fargo shares jumped 2.5% after the lender said it didn’t experience losses related to closing out its exposure to Archegos. Discovery (+5.4%) and ViacomCBS (+4.9%) shares rebounded after trading lower on Monday with the hedge fund forced to liquidate its positions. The Dow Jones index fell by 104 points or 0.3% from record highs. The S&P 500 index also lost 0.3% and the Nasdaq index was down 14 points or 0.1%.

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