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By Staff Reporters
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Stocks ended lower but off their worst levels, with the tech-heavy NASDAQ Composite bearing the brunt of selling pressure for a second session Wednesday after minutes of the Federal Reserve’s March policy meeting outlined plans for shrinking the central bank’s nearly $9 trillion balance sheet.
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The Dow Jones Industrial Average ended with a loss of around 145 points, or 0.4%, near 34,497, according to preliminary figures, while the S&P 500 sank around 44 points, or 1%. to finish near 4,481. The NASDAQ Composite shed around 315 points, or 2.2%, closing near 13,889.
And, the 10-year treasury yield, which indicates the level of investor confidence in the markets, jumped to 2.62% which was the highest level since March, 2019. The move higher is partly due to continued momentum from Tuesday’s 28.19% rise, which was propelled by U.S. Federal Reserve Governor Lael Brainard’s hawkish comments. However, the 5-year yield remained inverted and higher then the 30-year yield. The spike higher in bond yields
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Filed under: Alerts Sign-Up, Glossary Terms, Investing | Tagged: DJIA, Dow Jones Industrial Average, Federal Reserve, FOMC, Lael Brainard, NASDAQ, S&P 500, treasury bonds, Treasury Yield |
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