Search

Stocks slump as 10-year yield hits highest level since January 2020 - Fox Business

ponjotor.blogspot.com

U.S. equity markets were lower Tuesday as bond yields reached a 14-month high ahead of President Biden's unveiling of his $3 trillion infrastructure package set for Wednesday.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33099.69 -71.68 -0.22%
SP500 S&P 500 3953.97 -17.12 -0.43%
I:COMP NASDAQ COMPOSITE INDEX 12943.09704 -116.55 -0.89%

The Dow Jones Industrial Average fell 19 points, or 0.06%, while the S&P 500 and the Nasdaq Composite were lower by 0.24% and 0.48%, respectively. The losses have the Dow on track to open just below Monday's record-high close as the major averages contend with the benchmark 10-year yield ticking above 1.77% to a level last seen in January 2020.

BIDEN REVENUE PLAN INCLUDES 'MARRIAGE PENALTY' PUTTING SOME COUPLES AT A ‘SIGNIFICANT DISADVANTAGE,' EXPERT SAYS

Ticker Security Last Change Change %
MSFT MICROSOFT CORP. 231.99 -3.25 -1.38%
AAPL APPLE, INC. 119.49 -1.90 -1.57%
TSLA TESLA, INC. 592.55 -18.74 -3.07%

In stocks, climbing bond yields weighed on mega-cap technology stocks with Apple Inc., Microsoft Corp. and Tesla Inc. among the laggards.

Meanwhile, financials outperformed as the rise faster rise in longer-dated bond yields steepened the yield curve.

Ticker Security Last Change Change %
XLF FINANCIAL SELECT SECTOR SPDR ETF 34.42 +0.36 +1.06%

However, Credit Suisse AG and Nomura Holdings Inc. remained under pressure after both said on Monday that they would suffer substantial losses due to the hedge fund Archegos Capital Management needing to unwind billions of dollars of positions.

Ticker Security Last Change Change %
CS CREDIT SUISSE GROUP AG 11.02 -0.37 -3.25%

Elsewhere, PayPal Holdings Inc. will launch in the coming months launch a cryptocurrency checkout service for U.S. customers that will convert digital coins into fiat currency that can be used to make purchases.

Ticker Security Last Change Change %
PYPL PAYPAL HOLDINGS, INC. 233.41 -2.26 -0.96%

In commodities, West Texas Intermediate crude oil fell 97 cents to $60.59 per barrel as the Suez Canal reopened following the refloating of the container ship Ever Given and gold tumbled $27.30 $1,687.30 per ounce.

READ MORE ON FOX BUSINESS BY CLICKING HERE

Overseas markets rallied with Germany’s DAX 30 trading up 0.7%, France’s CAC 40 advancing 0.64% and Britain’s FTSE 100 ticking higher by 0.04%.

In Asia, Hong Kong’s Hang Seng index gained 0.84%, China’s Shanghai Composite added 0.62% and Japan’s Nikkei 225 rose 0.16%.

Let's block ads! (Why?)



Business - Latest - Google News
March 30, 2021 at 08:41PM
https://ift.tt/3cxXDkn

Stocks slump as 10-year yield hits highest level since January 2020 - Fox Business
Business - Latest - Google News
https://ift.tt/2Rx7A4Y


Bagikan Berita Ini

0 Response to "Stocks slump as 10-year yield hits highest level since January 2020 - Fox Business"

Post a Comment

Powered by Blogger.