November 28, 2022

Dawson County Journal

Dawson County, Nebraska

Late Slide Sends Wall Street Lower in More Uncertain Trading

A wobbly day of trading on Wall Street ended with a modest pullback for stocks Wednesday as investors weighed a report showed that inflation remains very hot, likely paving the way for more aggressive interest rate hikes by the Federal Reserve.
A late-afternoon drop erased tentative gains that the major stock indexes had been clinging to for much of the day. The S&P 500 ended 0.3 percent lower, its sixth consecutive loss. The Dow Jones Industrial Average and the Nasdaq composite each slipped 0.1 percent.
Treasury yields, which have driven much of Wall Street’s recent trading, ended lower. The yield on the 10-year Treasury, which affects mortgage rates, fell to 3.90 percent from 3.95 percent late Tuesday. The yield on the 2-year Treasury slipped to 4.28 percent from 4.30 percent….
Source: The Epoch Times