US stocks dip amid inflation angst
The yield on the 10-year US Treasury note pushed closer to 1.5 per cent amid worries that hefty US fiscal spending in a recovering economy will spark inflation. That means “the market will have to muster its inner strength to feel the buy-the-dip force without relying on Powell to discover that force,” said Briefing.com analyst Patrick O’Hare.
The broad-based S&P 500 slipped 0.2 per cent to 3,919.02, while the tech-rich Nasdaq Composite Index shed 0.1 per cent to 13,579.05.