US technology shares slipped and European equities climbed on Tuesday, as investors backed out of pandemic winners and positioned instead for a global economic recovery.
Wall Street’s tech-focused Nasdaq Composite dropped 0.1 per cent to close lower for a second-straight day. The broader S&P 500 index also fell, off 0.3 per cent.
US government bonds also came under pressure. The yield on the 10-year US Treasury hit its highest level since last January earlier in the session, rising 0.04 percentage points to more than 1.76 per cent before settling at about 1.71 per cent. The yield on the equivalent German Bund added 0.03 percentage points to minus 0.29 per cent.
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