Stock market news today: Stocks slide after weak economic data as 10-year yield falls below 4%

US stocks fell on Thursday as weak economic data trickled in, despite better than expected Meta results and hints from the Federal Reserve of a September rate cut. The S&P 500 fell almost 1%, while the tech-heavy Nasdaq Composite erased earlier gains to drop more than 1% after closing Wednesday with hefty gains. The Dow Jones Industrial Average dropped almost 500 points, or 1.3%. The 10-year Treasury yield moved below the 4% level for the first time since February, hovering near 3.98%.

Stocks initially moved higher after Fed chair Jerome Powell bolstered the market's confidence in a September interest-rate cut, saying it "could be on the table." Traders mostly expect a 25-basis-point reduction, but bumped up bets on a 50-basis-point move after policymakers held rates steady.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news today: S&P 500, Nasdaq climb as Fed delivers and Meta jumpsStrong Meta results are keeping bullish tech hopes aloft after the Fed cemented bets on a September rate cut.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: S&P 500, Nasdaq futures climb as Fed delivers and Meta jumpsStrong Meta results are keeping bullish tech hopes aloft after the Fed cemented bets on a September rate cut.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Markets today: Stocks rise on Fed-friendly data as Meta jumps 10%Stocks rose after the latest economic figures signaled further cooling that will be key for the U.S. Federal Reserve to cut interest rates.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market news today: Stocks rally after Fed decision, Nvidia surgesA tech revival is helping lift stocks, as investors digest the Federal Reserve's decision to hold interest rates steady.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Stocks rally before Fed decision as Nvidia surgesA tech revival is helping lift stocks, with the Federal Reserve's rate decision on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Stocks rally before Fed as Nvidia surges 7%A tech revival is helping lift stocks, with the Federal Reserve's rate decision on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »