U.S. stocks plunged on Wednesday as a surge in Treasury yields and fresh fiscal concerns weighed on investor sentiment. The S&P 500 and Nasdaq fell 1.6% and 1.3%, respectively, while the Dow Jones Industrial Average dropped 817 points.
Long-term bond yields jumped after a weak auction of $16 billion in 20-year Treasury notes, with the 30-year yield jumping to around 5.08%, its highest since 2023 amid growing concerns that a tax and spending bill in Washington could further widen the federal deficit.
Retail earnings added to the jitters: Target (-5.2%) missed estimates, cut its outlook and flagged weaker consumer demand amid tariffs, while Lowe's (-3%) and TJX (-2.9%) offered little reassurance. UnitedHealth fell 5.7% on a report that it was paying nursing homes to reduce hospital transfers. On the other hand, Alphabet rose 3% on new AI investments. Investors are also watching the weakening US dollar and the possible implications of the ongoing G-7 summit, which adds uncertainty to the outlook. (alg)
Source: Trading Economics
Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&...
The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed strong economic data against latest batch of corporate...
The S&P 500 rose 0.2% and the Nasdaq gained 0.4% on Friday (July 18), extending gains after both indexes closed at record highs the previous day. Meanwhile, the Dow Jones Industrial Average hovere...
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Aus...
The EUYR/USD finished Friday's session with gains of over 0.26% amid a weaker US Dollar, following dovish comments by Fed Governor Christopher Waller, which weighed on US Treasury yields. Still, an improvement in Consumer Sentiment capped the...
The U.S. dollar slipped against the euro on Friday but held on to weekly gains, as investors weighed expected Federal Reserve policy amid signs that tariffs may be starting to increase some inflation pressures and as U.S. President Donald Trump...
Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from...
Unemployment claims fell 7,000 to 221,000 in the week ending July 12, compared with the median estimate of 233,000, according to Labor Department...
The Producer Price Index (PPI) for final demand in the US rose 2.3% annually in June, according to data published by the US Bureau of Labor...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's...
The United States Commerce Department is set to impose preliminary anti-dumping duties of 93.5% on graphite imported from China after concluding the...