giving up more than 400 points.
The Dow industrials lost 1.1% to 38,441.54 and the Nasdaq composite slipped 0.6% to 16,920.58 after setting its latest all-time high. Advance Auto Parts sank 11% after its results and revenue for the latest quarter came up just shy of analysts’ expectations. This month’s swings in yields have also come as traders recalibrate their expectations for when the Federal Reserve could begin cutting its main interest rate, which is at its highest level in more than two decades.
A report from the Fed released Wednesday said that it’s heard from businesses and other contacts around the country that consumers are pushing back against more increases to prices. That in turn is eating into companies’ profits as their own costs for insurance and other expenses continue to rise.
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Stock market today: Asian shares track Wall Street's retreatShares have retreated in Asia after U.S. stocks fell under the weight of higher yields in the bond market. U.S. futures sank and oil prices fell back. On Wednesday, the S&P 500 dropped 0.7% and the Dow Jones Industrial Average lost 1.1%. The Nasdaq composite fell 0.6% after setting its latest all-time high.
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Stock market today: Asian shares decline after a mixed post-holiday session on Wall StreetShares have fallen across Asia after a mixed session on Wall Street. Oil prices also rose. The International Monetary Fund raised its forecast for China's economic outlook, saying it expects the No. 2 economy to grow at a 5% annual pace this year. On Tuesday, the S&P 500 closed little changed, just below its record set a week ago.
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Stock market today: Asian shares mostly higher after rebound on Wall StAsian shares were mostly higher on Monday after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week. U.S.
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Stock market today: Asian shares mostly higher after rebound on Wall StAsian shares are mostly higher after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week. Hong Kong's Hang Seng slipped but other benchmarks advanced. Taiwan led the gains, with heavy buying of computer chip-related shares pushing the Taiex up 1.3% to a fresh record. Oil prices also rose.
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Stock market today: Asian shares mostly higher after rebound on Wall StAsian shares are mostly higher after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week.
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Stock market today: Asian shares mostly higher after rebound on Wall StAsian shares are mostly higher after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week.
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