U.S. stocks pare losses heading into final hour of trading

0
6

U.S. stocks are paring their losses as the final hour of trading begins on Tuesday, although the Dow Jones Industrial Average remained down more than 400 points on the day. The blue-chip gauge DJIA, -1.01% was off 413 points, or 1.3%, at 30,615, leaving it within 1,000 points of its 52-week low from mid-June. The S&P 500 SPX, -1.13% was down 50 points, or 1.3%, at 3,849. The Nasdaq Composite COMP, -0.95% retreated 120 points, or 1.1%, to 11,414. Investors have blamed Tuesday’s market ructions on rising Treasury yields, especially on the 2-year yield [s:bx:tmubmusd02Y], which is approaching 4%, and the 10-year yield [s:bx:tmubmusd10Y], which has surpassed 3.50%. The difference between the two yields, known as the yield curve, has moved further into negative territory. Looking ahead, investors are waiting on the Federal Reserve to announce its next interest-rate hike on Wednesday.

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

Previous articleThe Tell: Will the Dow drop below 30K? Investors focus on Fed as stock market threatens test of June lows.
Next articleCoronavirus Update: Intense debate among experts follows Biden’s pandemic remark

LEAVE A REPLY

Please enter your comment!
Please enter your name here