Shares of technology companies rose sharply as traders rotated back into cyclical sectors in light of strong economic data.
Amazon.com paused construction on a massive corporate real-estate complex near Washington, D.C., that it calls its second headquarters, as a postpandemic retrenchment in the tech sector continues.
Meta Platforms is cutting the prices of its Quest Pro virtual-reality headset months after its launch.
The international race for supremacy in chip-making technology continued. Chinese smartphone giant Xiaomi set up a fund to invest in China's chip industry, the latest effort to shore up the sector targeted by U.S. restrictions.
Separately, another entrant in the race, British chip designer Arm Ltd., said it intends to list its shares in New York.
Broadcom shares rose after the maker of network technology posted quarterly earnings ahead of some investors' targets.
Software investment firm PSG Equity aims to collect $6.5 billion for its sixth main fund, according to a Pennsylvania pension system document.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-03-23 1717ET
