Dow ends almost 300 points lower, stocks fall for third straight day as bond yields jump

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

U.S. stocks closed lower on Thursday, with the selloff in equities gathered steam in late-day trade, as government bond yields touched their highest level in...

U.S. stocks closed lower on Thursday, with the selloff in equities gathered steam in late-day trade, as government bond yields touched their highest level in about 16 years. The Dow Jones Industrial Average DJIA, -0.84% shed about 291 points, or 0.8%, ending near 34,473, while the S&P 500 index SPX, -0.77% closed 0.8% lower and the Nasdaq Composite Index COMP, -1.17% fell 1.2%, according to preliminary FactSet Data.

Bond yields were once again a big driver in the market, with the 10-year Treasury rate TMUBMUSD10Y, 4.284% climbing to 4.307%, the highest yield for the benchmark rate since Nov. 2007, according to Dow Jones Market Data. Higher long-term Treasury rates make borrowing costs more expensive for households, the government and corporations, which can pinch earnings, economic growth and the stock market.

 

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 ZA

South Africa South Africa Latest News, South Africa South Africa 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 lower as Treasury yields rise after retail sales surprise By Investing.comStock Market Today: Dow lower as Treasury yields rise after retail sales surprise
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: Dow closes lower as spike in Treasury yields rattles stocks By Investing.comStock market today: Dow closes lower as spike in Treasury yields rattles stocks
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: Dow stumbles as surging U.S. yields keep stocks in firing line By Investing.comStock market today: Dow stumbles as surging U.S. yields keep stocks in firing line
Source: Investingcom - 🏆 450. / 53 Read more »