U.S. stock indexes posted their worst day in nearly a month on Monday as hotter-than-expected reading on the U.S. services sector fueled speculation that the Federal Reserve will hike interest rates more aggressively to subdue inflation. The Dow Jones Industrial Average DJIA, -1.40% finished 482 points lower, or 1.4%, to 33,947. The S&P 500 SPX, -1.79% dropped 1.
8% to close below 4,000-level for the first time in nearly a week, while the Nasdaq Composite COMP, -1.93% slumped 1.9%. A barometer of U.S. business conditions at service-sector companies rose to 56.5% in November, a strong signal that the economy is still expanding at a steady pace but raising concerns that the central bank will continue hiking rate aggressively at its December 13-14 meeting. The yield on the 10-year note rose 9.6 basis points to 3.598% on Monday.
Today confirmed the move last Wednesday was nonsense based off manipulation not technicals.
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Stock Market Today: Dow Drops 500 Points; Nasdaq and S&P 500 FallThe Dow dropped more than 500 points after strong economic data caused concern that the Fed will be forced to raise rates more than anticipated Mira, the problem. Play w it and pay for it or slay it. STAGFLATION. VERY REAL. Do the Volker. Stop w the 'what should I do next'. Out of the panties. Into the drawers. 2 Bah Bah Biden. Good is bad. Up is down.
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Dow Shines as Higher Rates Squeeze Nasdaq’s Tech StocksWith the market in tumult, boring old value stocks are beating risky growth stocks—meaning it is the Dow’s turn to shine In a market in tumult, it's the boring old value stocks that are beating the risky growth stocks. This just goes to show that sometimes the tried-and-true strategies can be the most effective in uncertain times. wall street journal : wallstreetjournal memes S&p up only down 10% y/y heading into recession S&p is on the moon Evaluations are sky high We are well above 20% up from pre pandemic s&p level Earnings is well worse than Jan 2020 Long long way down before we see real price discovery
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