04/02/2024

Dow Drops 400 Points as Tough Start to Quarter Continues

Meanwhile, rates climb

The Dow Jones Industrial Average fell for a second day, continuing Wall Street’s lackluster start to the quarter, as bond yields increased and traders lowered expectations that the Federal Reserve would cut interest rates in June.

The 30-stock Dow dropped 426 points, or 1.1 percent. The S&P 500 slid 0.9 percent, and the Nasdaq Composite shed 1.2 percent.

The second quarter for stocks is off to a rough start as sticky inflation data to end last week and some strong economic data Monday sends yields higher and reduces odds the Fed will cut rates in June. Oil prices also hit a five-month high on Tuesday, adding to inflationary pressures.

Please select this link to read the complete article from