The S&P 500 was 0.3% higher early Wednesday, coming off a 1.4% tumble that sent it to its lowest level in four months.The Nasdaq composite was up 0.4%. Stocks have struggled since the end of July as Treasury yields soar to their highest levels in more than a decade.THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
And despite an announcement from Saudi Arabia on Wednesday that it would maintain production cuts through the end of the year, crude prices slid. In Europe at midday, Germany's DAX rose 0.2%, Paris's CAC 40 was up 0.2% and Britain's FTSE 100 lost 0.5%. Investors increasingly are taking the Federal Reserve at its word that it will keep its main interest rate high for a long time in order to drive down inflation. The Fed has already yanked its federal funds rate to the highest level since 2001, and it indicated last month it may keep the rate higher in 2024 than it earlier expected.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian shares are sharply lower, tracking a rates-driven tumble on Wall StreetBANGKOK (AP) — Asian markets were sharply lower on Wednesday after Wall Street tumbled as it focused on the downside of a surprisingly strong job market: the likelihood that interest rates will stay high. U.S. futures and oil prices edged lower. Tokyo’s Nikkei 225 index sank 2.3% to 30,526.88 and the Kospi in South Korea dropped 2.4% to 2,405.69. Hong Kong's Hang Seng skidded 1.3% to 17,115.62. Troubled property developer China Evergrande was down 11% after plunging 28% on Tuesday. Australia's S
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Most of Wall Street slips as the bond market cranks up the pressureMost stocks are drifting lower Monday as the constrictor of higher interest rates tightens its coils around Wall Street.
Source: CTVNews - 🏆 1. / 99 Read more »
Stock market today: Unrelenting rise in Treasury yields drags Wall Street lowerWall Street is sinking again under the weight of higher yields in the bond market.
Source: CTVNews - 🏆 1. / 99 Read more »
Stock market today: Unrelenting rise in Treasury yields drags Wall Street lowerNEW YORK (AP) — Wall Street is sinking again under the weight of higher yields in the bond market. The S&P 500 fell 0.5% early Tuesday and is back to where it was in June. The Dow fell 157 and the Nasdaq composite was down 0.6%.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street buckles under higher bond yields as Dow wipes out gain for the yearNEW YORK (AP) — Wall Street tumbled as it focused on the downside of a surprisingly strong job market. The S&P 500 lost 1.4% Tuesday. The Dow fell 430 points and wiped out the last of its gains for the year so far.
Source: SooToday - 🏆 8. / 85 Read more »