Stock market today: Dow falls 500 points, S&P 500 and Nasdaq retreat from records as Treasury yields hit 24-year high - Yahoo Finance
US stock indexes retreated from record highs as Treasury yields reached a 24-year peak. Investors are reacting to Federal Reserve minutes suggesting potential future rate hikes and ongoing economic concerns like rising oil prices.
Why it matters
Market volatility and rising bond yields signal potential economic tightening, which impacts consumer borrowing costs and investment strategies globally.
US stocks fell on Wednesday morning as global bond yields rose, while investors assessed the minutes from the Federal Reserve's September meeting. The Dow Jones Industrial Average (^DJI) dropped 0.6%. The S&P 500 (^GSPC) declined 0.2%, and the tech-heavy Nasdaq Composite (^IXIC) fell 0.2% with both indexes retreating from record highs. The yield on 30-year Treasury (^TYX) bonds rose to its highest level since 2002 before paring back gains. The 30-year yield closed at 5.66%.In the afternoon, investors saw the released minutes from the Fed’s September meeting, which indicated that policymakers see another rate hike before the end of the year, though no timeline was given.
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