Shares of technology companies fell in volatile trading as concerns about valuations spurred a flight from some of the largest companies. The spike in Treasury yields makes richly valued growth.
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Provided by Dow Jones Shares of retailers and other consumer companies fell as investors retreated from a volatile sector. Coca-Cola shares were flat after the soda maker s fourth-quarter operating earnings topped Wall Street targets. The pandemic has been worse this winter than Coca-Cola executives expected, but the beverage giant said it expects consumers to return to normal life in the second half of the year. Under Armour shares rose after the sportswear retailer s quarterly sales tally topped forecasts. Pop star Rihanna and luxury conglomerate LVMH Moët Hennessy Louis Vuitton are putting their fashion joint venture, Fenty, launched in 2019, on hold after sales got off to a slow start and then faltered during the pandemic. There were signs that a speculative frenzy is still affecting the retail and consumer product stocks.
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