U.S. stocks open lower amid rising yields as investors weigh path of Fed rate hikes


U.S. stocks opened lower Friday as investors continue weighing how aggressive the Federal Reserve may need to be hiking interest rates to curb the highest inflation in decades. The Dow Jones Industrial Average DJIA, -0.86% was down 0.5% soon after opening bell, while the S&P 500 SPX, -1.29% fell 0.6% and the Nasdaq Composite COMP, -2.01% dropped 1%, according to FactSet data, at last check. The Federal Reserve Bank of St. Louis President James Bullard is leaning toward another large rate hike of three-quarters of a percentage point at the Fed’s meeting in September, according to a Wall Street Journal report Thursday. The yield on the 10-year Treasury note was up about nine basis points at around 2.97% Friday morning.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleCrypto: Your funds held at crypto platforms aren’t protected by government insurance. FDIC warns FTX’s U.S. arm to halt ‘false and misleading’ claims.
Next articleMovie-theater stocks fall after reported step toward bankruptcy by Cineworld


Please enter your comment!
Please enter your name here