Shares of technology companies fell as investors rotated out of the sector and into value sectors in light of rising Treasury yields as the 10-year note yield hit the highest level in more than a year.
British billionaire Richard Branson's Virgin Orbit hired bankers to help it go public this year through a blank-check company, aiming for a valuation for the satellite launching startup of up to $3 billion. It would be Branson's second launch of a space concern via a special-acquisition company approach.
Software giant Microsoft is investigating whether a world-wide cyberattack on tens of thousands of its corporate customers may be linked to a leak of information by the company or its partners, The Wall Street Journal reported.
Shares of electric-vehicle maker Lordstown Motors fell sharply after a report from short-selling firm Hindenburg Research alleged the company misled investors about the strength of its truck preorders and the progress it's making toward putting its first model into production. The accusations echoed those levelled against electric-truck maker Nikola in a previous clash between short-sellers and electric-vehicle makers. Shares of other EV makers, including Tesla, fell in sympathy.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-12-21 1737ET
