NEW YORK, Sept 6 — World stock indexes eased and benchmark 10-year Treasury yields rose to their highest in more than a week yesterday as oil prices jumped and investors weighed prospects for further US interest rate hikes.At the same time, economic data in China and Europe fuelled some worries about slowing global growth.
“Interest rates are continuing to rise,” and investors are focused on the Federal Reserve’s rate path, said Paul Nolte, market strategist, Murphy & Sylvest Wealth Management in Elmhurst, Illinois. The Dow Jones Industrial Average fell 195.74 points, or 0.56 per cent, to 34,641.97, the S&P 500 lost 18.94 points, or 0.42 per cent, to 4,496.83 and the Nasdaq Composite dropped 10.86 points, or 0.08 per cent, to 14,020.95.
The US dollar rose to a near six-month high against a basket of currencies as the Chinese economic data fuelled worries over global growth and pushed investors into the safe-haven US currency.
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