Stock market news today: Dow falls 366 points amid Fed tightening fears

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Malaysia News News

Dow falls more than 300 points as investors brace for more Fed tightening after huge ADP report

US stocks fell on Thursday, as strong jobs data stoked fears that the Federal Reserve will get more aggressive on tightening.

ADP private payrolls rose 497,000 in June, about double what economists expected. That could spell trouble for stocks, as Fed officials have cited an overly hot jobs market as a reason why interest rates could stay elevated. The 10-year Treasury yield jumped above 4%, and the 2-year yield hit 5.120%, the highest since 2007, as markets braced for a higher-for-longer interest rate regime.

Markets are waiting for the Labor Department's June jobs report to be released Friday, and economists expect payroll gains of 225,000, down from 339,000 in May.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 729. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Dow slips as Fed minutes show more hikes ahead; Meta jumps By Investing.com*U.S. STOCKS END LOWER ON WEDNESDAY AS FED MINUTES SHOW MORE RATE HIKES AHEAD $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
Source: Investingcom - 🏆 450. / 53 Read more »