(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: Stocks, bond yields and commodities around the world declined again Wednesday, as worries about slowing economic growth spurred a fresh retreat from riskier investments.
The Dow Jones Industrial Average fell 221 points, or .89%, to 25126, after earlier falling more than 400 points. The S&P 500 dropped .89%, with each of its 11 sectors declining. The broad equity gauge was on track for its lowest close since mid-March and was about 6% below its April 30 record.
The tech-laden Nasdaq Composite dropped .79%.
The yield on the benchmark 10-year U.S. Treasury note, which is tied to everything from mortgage rates to student debt, also extended a recent slide, dropping to 2.234%, according to Tradeweb, from 2.268% a day earlier. Tuesday’s close was its lowest settle since September 2017. Bond yields fall as prices rise and have dropped with investors seeking safety in Treasurys lately.
Commodities that are the building blocks of construction and manufacturing slipped Wednesday, the latest example of demand concerns hurting growth-sensitive materials. U.S. crude prices declined 0.6%, after earlier falling more than 3%, with oil extending a recent stretch of volatility amid rising stockpiles. Copper futures fell 1.1%.
Both commodities are down 10% or more from their 2019 peaks, a warning sign to those who use materials as a gauge of momentum in the world economy.
Despite strength in the U.S. labor market, some analysts expect weakness overseas to eventually spread as tariffs escalate, threatening the nearly 10-year old economic expansion.
The trade dispute “has caused the economy to slow and is going to continue to cause the economy to slow,” said Chris Cordaro, chief investment officer at RegentAtlantic.
In addition to Treasurys, some analysts have preferred buying the dollar recently to protect their portfolios, expecting the U.S. economy to remain steady relative to growth overseas. The WSJ Dollar Index, which tracks the dollar against a basket of 16 other currencies, rose for the third consecutive session and was near its highest level of the year.
Elsewhere, the Stoxx Europe 600 fell 1.4%.
In Asia, Korea’s Kospi closed 1.2% lower, hitting a nearly five-month low, while Japan’s Nikkei Stock Average fell 1.2%. The Shanghai Composite inched up 0.2%.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-05-29/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-futures-point-lower-on-rising-trade-worries-global-growth-concerns-2019-05-29/printWSJ:
https://www.wsj.com/articles/global-stocks-and-treasury-yields-extend-declines-11559117035Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-28/asia-stocks-set-to-decline-as-bond-rally-extends-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-sell-off-biggest-question-investors/CNBC:
https://www.cnbc.com/2019/05/29/stock-markets-wall-street-monitors-intensifying-global-growth-fears.htmlReuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-at-two-month-low-as-trade-tensions-mount-idUSKCN1SZ1B0U.K:
https://uk.reuters.com/article/uk-britain-stocks/worsening-trade-conflict-drags-down-londons-ftse-100-idUKKCN1SZ0PMEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-fall-scorched-by-china-rare-earth-warning-idUSKCN1SZ0PAAsia:
https://www.marketwatch.com/story/asian-markets-fall-following-wall-streets-lead-2019-05-28/printBonds:
https://www.cnbc.com/2019/05/29/us-bonds-wall-street-monitors-fresh-batch-of-economic-data-auctions.htmlCurrencies:
https://www.cnbc.com/2019/05/29/forex-market-us-china-trade-war-eu-politics-in-focus.htmlOil:
https://www.cnbc.com/2019/05/29/oil-market-us-china-trade-war-opec-supply-cuts-in-focus.htmlGold
https://www.cnbc.com/2019/05/29/gold-market-us-china-trade-war-eu-politics-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
