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Tech Stocks Drag US Indexes Down as Reopening Optimism Fades
15 Nov
Summary
- US stock indexes decline, led by tech sector
- Fed's hawkish comments push bond yields higher
- Government shutdown's economic impact to linger
On November 15, 2025, US stock indexes experienced a decline, with the S&P 500 Index down 1.10%, the Dow Jones Industrials Index down 0.68%, and the Nasdaq 100 Index down 1.55%. The weakness in the technology sector, particularly chipmakers and the "Magnificent Seven" tech stocks, has been a significant drag on the overall market.
The rise in Treasury yields, with the 10-year T-note yield up 3 basis points to 4.10%, has also contributed to the stock market's decline. Hawkish comments from Federal Reserve officials, such as Boston Fed President Susan Collins and Cleveland Fed President Beth Hammack, have pushed bond yields higher and reduced the chances of a rate cut at the next FOMC meeting to 53% from 70% the previous week.
The end of the longest government shutdown in US history, which was signed into law by President Trump on Wednesday evening, has not provided the expected boost to the market. The Congressional Budget Office (CBO) had projected that the six-week government closure would reduce real GDP growth in the current quarter by 1.5 percentage points, but more than half of the loss may be recovered early next year as federal programs resume and government employees receive back pay.
