(CNA) A climb in U.S. 10-year Treasury yields weighed on technology stocks, even as the takeover of bankrupt U.S. bank Silicon Valley Bank eased fears of a banking crisis and U.S. consumer confidence unexpectedly rose in March. US stocks closed lower today.

The U.S. 10-year Treasury yield is often seen as an indicator of the Federal Reserve's (Fed) monetary policy.

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The Dow Jones Industrial Average fell 37.83 points, or 0.12%, to close at 32,394.25 points.

The Standard & Poor's index fell 6.26 points, or 0.16%, to close at 3971.27 points.

The Nasdaq index of technology stocks fell 52.76 points, or 0.45%, to close at 11716.08 points.

The Philadelphia Semiconductor Index fell 26.308 points, or 0.85%, to close at 3057.267 points.


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