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The Closing Bell: U.S. Stocks Drop As Bond Yields Keep Climbing
FYI U.S. stocks dropped sharply Wednesday as an ongoing surge in Treasury yields pulled the Dow Jones Industrial Average down nearly 500 points and put the S&P 500 on pace for its longest losing streak in nearly two years.
The selloff put both indexes on track for their biggest losses in a single day since April, while the S&P 500 was poised to slide for a fifth straight session. The pullback sent a measure of stock-market volatility, the Cboe Volatility Index, up 19% in recent trading, suggesting investors were bracing for further swings in the market.
Fast-rising bond yields and signs of inflation have spooked investors that profit margins could narrow, sparking one of the biggest downturns of the year among shares of fast-growing companies that have benefited from a decade of near-zero interest rates.
The selling undercut the strong gains companies like Amazon.com , Netflix and Salesforce.com have contributed to the stock market this year and left some investors who hold those shares flat-footed. Regards, Ted Bloomberg Evening Briefing: https://www.bloomberg.com/news/articles/2018-10-10/your-evening-briefing
Comments
Regards,
Ted
Dow= -1,044
S&P 500=-115
Naz 100= -395
Regards,
Ted