Stocks pulled back on concerns equities are overvalued and commodities rallied with investors pricing in stronger growth and faster inflation as the global economy recovers from the pandemic. Technology took the brunt of the selling as higher yields dented the appeal of expensive, growth-focused stocks. The Nasdaq 100 slid about 1% and European and Asian markets were broadly negative. Boeing Co. shares declined about 2% after airlines halted flights using the company’s 777 aircraft following an engine failure. Commodities were almost uniformly green. Brent oil climbed above $63 a barrel as Goldman Sachs Group Inc. predicted prices could advance into the $70s […]

The post Technology Leads Stock Declines; Commodities Rally: Markets Wrap appeared first on Vladimir Ribakov.