(Bloomberg) — The new-year slump in US stocks extended while bonds eked out a gain in the aftermath of the minutes of the Federal Reserve’s last meeting.
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The Nasdaq 100 fell 1.1%, extending a losing streak for a fourth day — the longest in over two months — as investors continued to retreat from last year’s winning tech sector. The S&P 500 slid 0.8% while the Russell 2000 small-caps gauge notched its worst drop since the March banking crisis. Tesla Inc. and semiconductor stocks slumped while crypto-tied equities floundered as Bitcoin erased most of its gains this year.
The dollar strengthened against most of its Group-of-10 peers for a fourth day, the longest run for the currency since November.
Fed policymakers said rates could stay restrictive for longer than anticipated last month, while noting rate cuts could emerge before the year is out. Swaps traders have been reining in their bets on rate cuts…
