S&P 500, Nasdaq open lower as tech stocks weigh

FILE PHOTO: American flags hang from the facade of the New York Stock Exchange (NYSE) building after the start of Thursday’s trading session in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/File Photo

(Reuters) – The S&P 500 and the Nasdaq opened lower on Friday as a rise in U.S. bond yields weighed on richly valued technology stocks a day after the S&P 500 set a record closing high.

The S&P 500 opened lower by 1.06 points, or 0.03%, at 4,096.11, while the technology-heavy Nasdaq Composite dropped 42.30 points, or 0.31%, to 13,787.02 at the opening bell.

The Dow Jones Industrial Average rose 22.62 points, or 0.07%, at the open to 33,526.19.

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