Stocks Pare Losses After Broad Retreat From Riskier Assets—Update morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Provided by Dow Jones
By Joe Wallace U.S. stocks dropped alongside commodities, overseas shares and bitcoin on Wednesday as investors risk appetite diminished. The Dow Jones Industrial Average fell 1.3% and the S&P 500 dropped 1.5%, putting the major indexes on track to extend losses. The Nasdaq Composite lost 1.7%, with the biggest tech stocks, Apple, Amazon, Microsoft and Alphabet, all down in morning trading. Commodity markets also retreated. Futures for West Texas Intermediate, the main grade of U.S. crude oil, fell 3% to $63.55 a barrel. Investors were selling even less risky assets like bonds, sending the yield on 10-year Treasury notes ticking up to 1.645% from 1.641% Tuesday. Yields rise when bond prices fall.
Provided by Dow Jones
By Joe Wallace and Paul Vigna U.S. stocks fell Wednesday alongside commodities, overseas shares and bitcoin as investors appetite for risk diminished. The Dow Jones Industrial Average declined as much as 587 points in morning trading, before paring its losses to about 163 points, while other markets steadied as well. Investors continue to fret about whether the quickening pace of inflation will prompt the Federal Reserve to taper its bond purchases and raise interest rates. Although Fed officials have indicated the economy is still in recovery mode and requires stimulus from the central bank, several have said this week that the central bank is closely watching economic developments and will be ready to adjust policy when necessary.
Provided by Dow Jones
By Joe Wallace U.S. stocks dropped alongside commodities, overseas shares and bitcoin on Wednesday as investors risk appetite diminished. The Dow Jones Industrial Average fell 445 points, or 1.3%, and the S&P 500 dropped 1.2%, putting the major indexes on track to extend losses. The Nasdaq Composite lost 0.9%, with the biggest tech stocks, Apple, Amazon, Microsoft and Alphabet, all down in morning trading. Investors sought havens, buying bonds and sending the yield on the 10-year Treasury note down to 1.620% from 1.641% Tuesday. Yields fall when bond prices rise. Gold, meanwhile, was up 0.8% to $1,884. The capital markets have been rallying sharply for more than a year on a bet that eventually economic growth would resume its pre-pandemic pace. Economic reports have shown an economy that is rebounding, but markets have been pricing in even more aggressive growth. That dynamic is starting to reverse itself, said M
Provided by Dow Jones
By Joe Wallace and Paul Vigna U.S. stocks dropped Wednesday alongside commodities, overseas shares and bitcoin as investors appetite for risk diminished. The Dow Jones Industrial Average declined as much as 587 points in morning trading, before paring its losses to about 200 points, while other markets steadied as well. Investors continue to fret about whether the quickening pace of inflation will prompt the Federal Reserve to taper its bond purchases and raise interest rates. Although Fed officials have indicated the economy is still in recovery mode and requires stimulus from the central bank, several have said this week that the central bank is closely watching economic developments and will be ready to adjust policy when necessary.