Dow Jones, S&P 500, Nasdaq: Wall Street in the Minus – Bond Yields Under Pressure
Rising oil prices are once again weighing on sentiment on the US stock exchanges. New interest rate concerns are driving the yield on the 10-year US government bond to its highest level since 2007.
US stock market indexes fell on Wednesday, giving back some of their gains from the previous two days. The Dow Jones dropped 0.6% to 51,534 points, while the S&P 500 and Nasdaq declined 0.6% and 0.9% respectively. The uncertainty surrounding the Iran war and rising oil prices, along with comments from Fed Director Michael Barr suggesting further interest rate hikes, contributed to the decline.
The US economy showed signs of growth, with the S&P Global purchasing managers' index reaching its highest level in over five years in September, but this was accompanied by supply chain bottlenecks and concerns about inflation.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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