Dow Jones closes higher, but Nasdaq sheds over 2%

Economies.com
2021-03-08 22:31PM UTC

The main US stock indices were mixed on Monday, as Dow Jones rebounded after the Senate approved the stimulus plan, but the tech sector pulled Nasdaq down.

 

The US House of Representatives will pass the bill later this week, after the US Senate officially approved the $1.9 trillion Covid-19 relief package.

 

This huge aid package is aimed at supporting the US economy from the Covid-19 pandemic repercussions and to contain the outbreak.

 

The yield of the 10-year US Treasury bonds rose above 1.6%, which foreshadows more pressure on stocks.

 

To the oil market, WTI crude April futures fell 1.6% or $1.04, and closed at $65.05 a barrel, after hitting a high of $67.9 and a low of $64.9.

 

Brent May futures fell 1.6% or $1.12, and closed at $68.24 a barrel, after hitting a high of $71.3 and a low of $68.2.

 

As for stocks, Dow Jones rose 1% or 306 points, and closed at 31,802, a day high of 32,148, and a low of 31,512.

 

Nasdaq fell 2.4% or 310 points to 12,609, with a high of 13,001 and a low of 12,599.

 

S&P 500 fell 0.5% or 20 points to 3,821, after hitting a high of 3,881 and a low of 3,819.

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