Stocks Fall for Third Day in a Row as Yields Continue to Rise: Stock Market News Today

On Thursday, US stocks closed sharply lower for the third consecutive session as the August gloom continued on Wall Street.

The leading Dow Jones Industrial Average (^DJI) is down about 0.8%, while the S&P 500 (^GSPC) is down about the same amount. The technology-heavy Nasdaq Composite (^IXIC) lost more than 1% for the third day in a row.

Meanwhile, the 10-year US Treasury yield settled just below 4.3%, staying near recent highs. Globally, yields are at highs not seen since the depths of the Great Recession.

Healthcare stocks, most notably CVS (CVS), were criticized by a report that insurer Blue Shield of California is looking to reduce its reliance on CVS for its pharmacy services and instead shift more to drugmaker Amazon and Mark Cuban. CVS stock finished down more than 8%.

Meanwhile, concerns about the Fed’s path on interest rates have returned to the markets. Stocks closed firmly in the red on Wednesday after the release of minutes from the Fed’s latest policy meeting indicated that the committee remains focused on reining in inflation and would not rule out further hikes in September.

On the earnings front, Walmart Inc (WMT) took center stage to end a busy week in retail. The retailer posted a strong quarter that saw sales and traffic increase in its stores as Americans continued to look for discounts. However, its stock fell more than 2% on Thursday.

The highlight of Thursday’s economic data came in the form of weekly jobless claims, which fell last week, indicating continued resilience in the labor market.

Related Posts

Pat Sajak discusses his health problems. He believed he was going to die from the pain

“Wheel of Fortune” host Pat Sajak, in his first post-surgery interview, shared the harrowing experience of his blocked bowel emergency a month ago. Severe pain during a morning walk led…

Read more

Mom With Over 800 Tattoos Called A Freak – Struggles To Secure Job As Businesses Won’t Hire Her

A mother’s two adoring children continue to look up to her as a role model despite the fact that her peers have called her a “freak.” There are no innate…

Read more

Pregnant Wife Sees Best Friend’s Message on Husband’s Phone: ‘You Haven’t Told Her about Us?’

In a Reddit saga, an anonymous user confronted the painful revelation of her husband’s infidelity with her best friend while she was six months pregnant. The woman, facing the challenges…

Read more

A woman is waiting for a train to return home

Presenting millions of photos is not necessary. On the train platform, Ylva Johansson, the Swedish Labor Minister, was observed consuming food. The politician is shown as an ordinary woman rather…

Read more

Why Is It Important To Store Toilet Paper In The Refrigerator? A Little-Known Secret

The battle against unpleasant odors in the kitchen takes an unconventional turn with the use of toilet paper stored in the refrigerator. Opening the fridge often reveals stubborn, musty smells…

Read more

SEVEN (7) THINGS THAT CLOG YOUR PORES AND CAUSE ACNE

We’ve all got these tiny openings in our skin for releasing sweat and oil, We’ve all got these tiny openings in our skin for releasing sweat and oil, but for…

Read more

Leave a Reply

Your email address will not be published. Required fields are marked *