Slump for tech stocks overshadows gains by telecoms, banks

Financial stocks, which analysts also expect to be winners from the tax overhaul, likewise climbed 1.6 percent. Technology companies, meanwhile, will likely get less of a boost. They already were typically paying the lowest effective tax rates of the 11 …Powered...

Bank stocks favored over tech as tax bill makes headway

The Nasdaq, however, fell as investors looked away from best-performing technology sector to pick industrials, consumer discretionary and financial stocks. Bank of America (BAC.N) rose as much as 3.9 percent to hit a near-decade high of $29.2, while Boeing...