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Stock Market Today: Dow turns negative for 2023 as surging yields sink stocks By Investing.com

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Stock Market Today: Dow turns negative for 2023 as surging yields sink stocks

Investing.com -- The Dow fell Tuesday, and turned negative for the year as data showing surprise strength in the labor market, stoked further concerns about higher Federal Reserve interest rates, pushing Treasury yields to multi-year highs. report, a measure of labor demand, showed job openings in August unexpectedly increased by about 9.6 million, confounding expectations for drop to 8.8M.

The fresh surge in the Treasury yields comes even as Atlantic Fed President Raphael Bostic said there wasn’t “urgency” for the Fed to raise rates again.), with the latter coming under added pressure after media reports that it is mulling whether to charge a $14 monthly fee to users who want to access an ad-free version of Facebook or Instragram.

The broader malaise in tech, meanwhile, continued to be dominated by an ongoing rise in Treasury yields, which makes growth sectors of the market less attractive.) fell more than 8% despite lifting its full-year earnings guidance, though the spice maker did report Q3 revenue that fell

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