MSCI’s all-country stock world stock index <.MIWD00000PUS) slid 0.04 percent as much of Wall Street retreated. Earlier, Germany’s DAX index .GDAXI rose 0.8 percent and the Nikkei 225 .N225 in Tokyo gained 0.52 percent.
European shares closed higher, erasing early choppiness. Britain’s FTSE 100 index .FTSE rose 1 percent, and the pan-regional FTSEurofirst 300 index of leading European shares rose 0.37 percent to 1,534.39.
Technology stocks sold off sharply on Friday, June 7, taking a toll on the Nasdaq and dragging on other major Wall Street indexes, which touched record highs earlier in the day.
The technology sector .SPLRCT, which soared this year and led the market’s rally, finished down 2.7 percent, after paring declines.
But financials .SPSY and energy .SPNY, which have lagged the broader rally this year, were strong. Energy gained 2.5 percent and financials rose 1.9 percent.
The Nasdaq Composite .IXIC dropped 113.85 points, or 1.8 percent, to end at 6,207.92.
The Dow Jones Industrial Average .DJI rose 89.44 points, or 0.42 percent, to 21,271.97, while the S&P 500 .SPX lost 2.02 points, or 0.08 percent, to 2,431.77.
Market watchers had been concerned that the result of the Congressional hearing could derail President Donald Trump’s plans for lower taxes, fiscal spending and looser regulations, which have helped drive the S&P 500 up 13.7 percent since his election, Reuters reports.
