NEW YORK (AP) — U.S. stock indexes found their footing after a sharp early loss Monday and finished mixed. Technology companies sank for the third day in a row.
Stocks slumped in morning trading following big declines late last week. Some of the largest losses went to technology companies, including payment and credit card companies. Indexes in Europe also dropped as Italy vowed to ramp up spending that will increase its deficit.
A sharp increase in bond yields last week had startled investors and prompted them to shift money out of stocks. Bond markets in the U.S. were closed for the Columbus Day holiday and stock trading was relatively light.
Banks, which often rise along with interest rates, continued their advance. High-dividend companies, which tend to fall when yields go up, recovered some of their losses from last week.
The S&P 500 index dipped 1.14 points. Dow Jones reversed an early loss of 223 points or 0.2%.