In New York, the Dow Jones industrial average was down 105.45 points at 33,035.93. The S&P 500 index was down 60.91 points at 4,186.77, while the Nasdaq composite was down 318.65 points at 12,821.22.
“It's still very much about what yields are doing and what implications are for the economy and the markets.”There's a widespread recognition that central banks are more or less done with their tightening cycles, said Fehr, and so the new point of uncertainty is how long banks intend to hold for. The Bank of Canada on Wednesday held its key interest rate in a widely expected move. It also lowered its economic growth forecast but projected higher inflation in the short run.
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