US stocks retreated from record highs, ending the Nasdaq Composite’s longest winning streak this year.
The tech-heavy index closed 0.8 per cent lower on Thursday, ending a seven-session run of gains that was its longest positive run since a nine-session streak in December. Nvidia tumbled 3.5 per cent, bringing its market value back below Microsoft’s after briefly becoming the world’s most valuable company.
The S&P 500 dropped 0.3 per cent despite more than half of its members advancing, as losses in the technology sector weighed Wall Street’s benchmark index down.
Treasuries prices slipped, pushing the yield on the two-year note up 0.03 percentage points to 4.73 per cent. The yield on the 10-year note rose 0.04 percentage points to 4.26 per cent.
