Morning Report 22 Aug 22: US sharemarkets fell on Friday

Longer-term bond yields rose, weighing on technology stocks. Shares in Apple fell 1.5% and Microsoft fell by 1.4%. The S&P banking index fell by 2.1%. Shares in Bed Bath & Beyond fell by 40.5% as billionaire investor Ryan Cohen sold his stake in the struggling home goods retailer. The Dow Jones index lost 292 points or 0.9%. The S&P 500 index dropped by 1.3%. And the Nasdaq index fell by 260 points or 2.0%. Over the week the Dow fell 0.2%; the S&P 500 fell by 1.2%; and the Nasdaq fell 2.6%. 

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