Yellen's rate hike warning spooks stock markets

www.telegraph.co.uk
4 min read
fairly easy
Technology stocks dropped on Tuesday as Janet Yellen warned that interest rates are likely to rise due to surging US Government spending.
The technology-heavy Nasdaq index sank more than 2pc in New York, driven by falls at some of the world's biggest companies, and the broader S&P 500 headed towards its worst day since mid-March. Shares in Apple tumbled nearly 4pc, while Tesla fell 3pc.

Ms Yellen, the US Treasury Secretary, said interest rates may have to rise modestly to prevent the world's largest economy from overheating due to high levels of government spending.

In an interview with The…
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