Despite okay earnings and positive reports on the economy. The Dow Jones Industrial average dropped 112 points to 23,329. The nasdaq was off 34. And the s p 500 fell 12. Bob pisani has more on what drove todays decl reporter a momentum selloff on wall street today. U. S. Stocks suffered their worst trading day in two months. The market is very concerned about a sudden spike in Interest Rates and it has a couple of reasons to be concerned. First, durable goods was much more than expected, a good thing for the economy but it raised questions about inflation. John taylor may be the frontrunner for the fed chair, spooking investors since taylor is known to want to raise rates faster than the fed is doing so far. That caused some investors to take money off the table, particularly in stocks that had strong gains this year like semiconductors. Even stocks like boeing sold off after monster profits, up 60 . Then uncertainty on tax reform. The market has priced in good news but its not clear i
The Directorate General of Trade Remedies (DGTR) has initiated a Safeguard duty (Quantitative Restrictions) investigation concerning imports of low ash metallurgical coke (Met Coke) into India. Met coke is used as a primary fuel in furnaces of steel, chemical, Ferro alloy, and pig iron plants. DGTR will be investigating imports of the commodity from April 2022 to March 2023.