Shares of several companies in the broader technology sector, including Paypal Holdings Inc PYPL, Micron Technology, Inc. MU and QUALCOMM, Inc. QCOM, are all trading lower amid overall market weakness as the Russian invasion of Ukraine continues to escalate. The conflict has weighed on stocks and pressured economic sentiment in recent trading sessions.
Monday marked the final trading session of February. In what was a volatile month across sectors, the SPDR Dow Jones Industrial Average ETF Trust DIA fell by 6.1% to $332.40, the SPDR S&P 500 ETF Trust SPY lost 5.1% to $429.65 and the Invesco QQQ Trust Series 1 QQQ fell by 6.5% to $341.82. Stocks suffered losses in February as investors reacted to US inflation data, Fed tapering outlook and a new 2-year high in the 10-year US Treasury yield.
PayPal is trading lower by 5.0% to $106.29.
Micron is trading lower by 3.1% to $86.14.
Qualcomm is trading lower by 4.8% to $163.77.
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