Tech Slides, Chinese Stocks Rebound, New York Community Bancorp Tumbles: What’s Driving Markets Tuesday?

At noon trading in New York, major equity indices on Wall Street remain directionless as traders evaluate the future course of monetary policy ahead of several speeches by Federal Reserve officials in the days ahead.

The Nasdaq 100 was 0.6% lower, on track for a second negative session, as investors took some profit following the impressive surge in artificial intelligence-related and semiconductor stocks.

The iShares Semiconductor ETF (NASDAQ:SOXX) is down nearly 2% on its worst-performing day since early January.

Treasury yields slightly pulled back from the recent sharp surge observed over the past few days. As a response, bonds rose, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) up 0.9%.

Chinese stocks made headlines as they rallied after Beijing pledged support from the government and agency officials. The iShares China …

Full story available on Benzinga.com