Dow falls nearly 200 points with Treasury yields near 16-year highs, oil jumping and tech earnings ahead

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Isabel Wang is a Markets Reporter for MarketWatch.

U.S. stock indexes were falling on Wednesday as Treasury bond yields remained at fresh 16-year highs, while investors digested more corporate results as the third-quarter earnings-reporting season got under way in earnest, but geopolitical angst still hit market sentiment amid the escalation of violence in the Middle East.

Long-term Treasury yields advanced further above their highest levels since 2007, with the yield on 30-year Treasury bond BX:TMUBMUSD30Y up 9 basis points, at 5.024%, while the yield on the 10-year Treasury bond BX:TMUBMUSD10Y also rose 9 basis points, to 4.927%, according to FactSet data. “We’ve had some pretty big tailwinds that are offsetting the monetary-policy tightening that have helped the economy this year,” such as the expansion in the fiscal deficit, the cooldown in inflation and cash stockpiles for consumers and businesses, Bush told MarketWatch in a phone interview on Wednesday.

“Overnight we’ve seen a fresh risk-off tone because of the geopolitical situation, and … that has led to a clear reaction in markets,” said Henry Allen, a strategist at Deutsche Bank. Concerns about compromised oil supplies from the region helped push Brent crude BRN00, +1.37% to around $91 per barrel, while gold prices GC00, +1.16% hovered around $1,965 an ounce.

 

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:

 /  🏆 3. 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 ekes out gain, but rising Treasury yields stifle upsideStock Market Today: Dow ekes out gain, but rising Treasury yields stifle upside
Source: Investingcom - 🏆 450. / 53 Read more »

Dow remains lower with Treasury yields near 16 year highs, oil jumping and tech earnings aheadIsabel Wang is a Markets Reporter for MarketWatch.
Source: MarketWatch - 🏆 3. / 97 Read more »