NEW YORK: Wall Street stocks declined on Wednesday following a choppy session as the market grappled with lingering worries over the economic growth outlook.
The Dow Jones Industrial Average dipped 32.14 points to finish at 25,625.59, about 200 points above its session lows earlier in the day.But the other major indexes saw bigger declines: The broad-based S&P 500 shed 13.09 points ending at 2,805.37, while the tech-rich Nasdaq Composite Index fell 48.14 points to 7,643.38.
Investors have been weighing how seriously to view a big drop in 10-year US Treasury bond yields in recent session, traditionally a sign of medium- and long-term economic weakness."Buyers showed up during the second part of the session," said Adam Sarhan of 50 Park Investment, who considers the market's jitters over bond yields overblown.But"if the bond market is right, then the stock market can go down further," Sarhan added.
Among individual companies, Boeing rose 1.0 per cent as it unveiled proposed changes to flight software on its 737 MAX aircraft, which have been grounded following two deadly plane crashes in five months.