Stocks closed lower Thursday, as higher bond yields once again pulled down shares of technology companies and the energy sector sold off on a drop in oil prices.
The IT-heavy Nasdaq suffered its second-worst loss of the year, falling 3%. Bank stocks were among the best performers as investors bet that higher interest rates would translate into higher profits. The S&P 500 index fell 1.5%. The Dow Jones Industrial Average lost 0.5%.
Bond yields moved higher again, to levels not seen since January 2020.
On Thursday:
The S&P 500 fell 58.66 points, or 1.5%, to 3,915.46
The Dow Jones Industrial Average fell 153.07 points, or 0.5%, to 32,862.30.
The Nasdaq fell 409.03 points, or 3%, to 13,116.17.
The Russell 2000 index of smaller companies fell 68.81 points, or 2.9% to 2,267.59.
For the week:
The S&P 500 is down 27.88 points, or 0.7%.
The Dow is up 83.66 points, or 0.3%.
The Nasdaq is down 203.70 points, or 1.5%.
The Russell 2000 is down 85.20 points, or 3.6%.
For the year:
The S&P 500 is up 159.39 points, or 4.2%.
The Dow is up 2,255.82 points, or 7.4%.
The Nasdaq is up 227.89 points, or 1.8%.
The Russell 2000 is up 292.73 points, or 14.8%.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Read all the Latest News, Breaking News and Coronavirus News here
Comments
0 comment