Stock market today: Dow slides 600 points as worries about rates overshadow Nvidia’s blowout profit

NEW YORK — In the latest example of how good news for the economy can be bad for Wall Street, most U.S. stocks slumped Thursday after strong economic reports raised the possibility of interest rates staying painfully high. The weakness was widespread and overshadowed

One preliminary report suggested growth in U.S. business activity is running at its fastest rate in more than two years. S&P Global said in its report that growth improved for businesses not only in the services sector but also in beaten-down manufacturing.Treasury yields had been close to flat following the joblessness report but turned higher immediately after the report on business activity, which also suggested selling prices remain stubbornly high.

A hotter-than-expected economy could push the Federal Reserve to wait longer before cutting interest rates, after traders already ratcheted back their. What’s worse, it could force the Federal Reserve to ultimately raise rates more and cause a deep recession to get inflation to fully succumb. VF Corp., the company behind The North Face, Vans, Timberland and other brands, fell 3.5% after reporting a loss for the latest quarter, along with weaker revenue than analysts expected.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Stock Market Today: Dow closes above 40,000 for first time to extend wining streakStock Market Today: Dow closes above 40,000 for first time to extend wining streak
Источник: Investingcom - 🏆 450. / 53 Прочитайте больше »

Stock market today: Wall Street drifts higher, and Dow touches 40,000 for the first timeThe Dow Jones Industrial Average was 109 points higher, or 0.3%, at 40,017, as of 10:45 a.m.
Источник: clevelanddotcom - 🏆 301. / 63 Прочитайте больше »

Stock Market Today: Dow snaps two-day win streak after brief foray above 40K levelStock Market Today: Dow snaps two-day win streak after brief foray above 40K level
Источник: Investingcom - 🏆 450. / 53 Прочитайте больше »

Stock market today: Dow tops 40,000 for the first time as Wall Street drifts higherThe Dow Jones Industrial Average topped the 40,000 level for the first time Thursday, as U.S. stocks drifted higher to add to their records set a day before.
Источник: amNewYork - 🏆 336. / 59 Прочитайте больше »