Wall Street tumbles 1% at the open on higher yields

Economies.com
2018-10-10 14:28PM UTC

US stock indices opened the third session of the week sharply lower as treasury yields continue their surge to multi-year highs, while the tech sector led Wall Street lower ahead of the third-quarter earnings season. 

 

Earlier US data showed producer prices rose 0.2% as expected in September, compared to a 0.1% dip in August, while core prices rose 0.2% as well, matching estimates. . 

 

The final reading for wholesale inventories showed a 1% increase, compared to the preliminary reading's 0.8%, and adding to July's 0.6% increase. 

 

Stock Performance 

 

As of 02:24 GMT, Standard and Poor's 500 shed 0.87%, or 25.19 points to 2,855.15, while Dow Jones shed 0.86%, or 227.15 points to 26,203.42. 

 

Tech-heavy NASDAQ tumbled 1.50%, or 115.86 points to 7,622.15. 

American Markets News

Americas News

Markets

Dow Jones rises ahead of US inflation data
2024-03-27 15:35PM UTC
Most US stock indices rose on Wednesday ahead of new important US data on growth and personal ...
Americas News

Markets

Wall Street gains ground following positive data
2024-03-26 15:41PM UTC
US stock indices rose on Tuesday after a series of losses as markets assess latest ...
Americas News

Markets

Wall Street loses ground as the week opens up
2024-03-25 16:16PM UTC
Most US stock indices declined on Monday as markets assess the Federal Reserve’s stance on ...