The Dow is down nearly 500 points today, following last week’s decline.
At 8:50 p.m. Thai time, the Dow Jones Industrial Average stood at 32,400.14 points, minus 499.23 points, or 1.52%.
The Dow was down 0.24 percent last week, while the S&P 500 was down 0.21%, and the Nasdaq was down 1.54 percent. Week 5
Wall Street remained under pressure today as the yield on the 10-year U.S. Treasury rose to 3.185%, the highest level since 2018.
The 10-year U.S. Treasury Bond is the benchmark for determining the price of bonds around the world. This includes mortgage loan interest rates. If bond yields rise will make companies face higher costs from debt settlement This will result in these companies reducing their investment. and reduce dividend payments to investors
Technology stocks fell today. Amid concerns about a rebound in US Treasury yields
In addition, energy stocks fell as well. According to the plunge in oil prices today.
The CME Group’s FedWatch Tool indicates that investors are weighing 75 percent that the Fed will raise interest rates by 0.75% at its June 14-15 meeting, up from 19% last month.
Investors are also expecting the Fed to raise interest rates totaling more than 2.00% this year, bringing the short-term interest rate to 2.85% by the end of the year.
Investors will be eyeing the release of the Consumer Price Index (CPI), a measure of inflation based on consumer spending, on Wednesday that could influence the Fed’s monetary policy decisions at its June meeting.