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Indonesia News Portal for Traders | Financial & Business Updates

22 October 2024 00:21  |

Dow Drops 300 Points as Wall Street’s Rally to Record Highs Takes a Breather

U.S. stocks fell on Monday after a strong week for the major averages, as investors awaited the release of major corporate earnings reports.

The S&P 500 slipped 0.4%, while the Dow Jones Industrial Average lost 312 points, or 0.7%. The Nasdaq Composite shed about 0.1%.

Consumer and homebuilder stocks were among the biggest losers during midday trading as fears about higher-for-longer interest rates crept up, with Target and Builders FirstSource each down more than 3%.

The yield on the 10-year Treasury jumped, rising more than 9 basis points to 4.172%.

Source : CNBC

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