Wall Street Opens Lower on Earnings Misses, Inflation Fear; Dow Down 500 Pts By Investing.com
[ad_1]
© Reuters By Geoffrey Smith
Investing.com — U.S. stock markets opened broadly lower again on Monday as inflation fears, embodied in rising bond yields and surging oil prices, combined with some weak-looking earnings to dampen sentiment.
While technology stocks underperformed again, losses were broad-based. By 9:45 AM ET (1445 GMT), the was down 518 points, or 1.4%, at 35,394 points, a four-week low. The was also down 1.3% and the was down 1.5%.
That came after a long holiday weekend during which U.S. Treasury bond yields had snuck up to their highest in over two years. The benchmark 10-year yield hit 1.85% before retracing to 1.81%, while the two-year yield rose above 1% for the first time since the start of the panic. Meanwhile, prices surged to a seven-year high as a drone strike by Iranian-backed militia in Yemen against the United Arab Emirates added to concerns that the world’s biggest producers will struggle to meet their commitments to increase supplies to world markets.
The general sell-off overshadowed some major M&A news, as Microsoft (NASDAQ:) agreed to pay over $50 billion for troubled videogames publisher Activision Blizzard (NASDAQ:).
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
[ad_2]
Source link
© Reuters By Geoffrey Smith
Investing.com — U.S. stock markets opened broadly lower again on Monday as inflation fears, embodied in rising bond yields and surging oil prices, combined with some weak-looking earnings to dampen sentiment.
While technology stocks underperformed again, losses were broad-based. By 9:45 AM ET (1445 GMT), the was down 518 points, or 1.4%, at 35,394 points, a four-week low. The was also down 1.3% and the was down 1.5%.
That came after a long holiday weekend during which U.S. Treasury bond yields had snuck up to their highest in over two years. The benchmark 10-year yield hit 1.85% before retracing to 1.81%, while the two-year yield rose above 1% for the first time since the start of the panic. Meanwhile, prices surged to a seven-year high as a drone strike by Iranian-backed militia in Yemen against the United Arab Emirates added to concerns that the world’s biggest producers will struggle to meet their commitments to increase supplies to world markets.
The general sell-off overshadowed some major M&A news, as Microsoft (NASDAQ:) agreed to pay over $50 billion for troubled videogames publisher Activision Blizzard (NASDAQ:).
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
About The Author
