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Home / Business / Dow drops 799 points on bond and trade fears

Dow drops 799 points on bond and trade fears



US. The shares broke on Tuesday and the sale accelerated in the closing bell. Investors reacted to declining bond yields, mounting recession fears and ongoing skepticism about the US-China ceasefire.

Ticker Security Load Change % Chg
SP500 S & P 500 2700.06 -90.31 -3.24%
I: DJI DOW JONES AVERAGES 09 [09659009] 09.1
09 799.36
-3.10%
I: COMP NASDAQ COMPOSITE INDEX 7158.4257 -283, 09 -3.80%

The broader market averages lost over 3 percent in midfield Industrial Average closes just under 800 points. The trading volume, which includes all major US stock exchanges, averaged nearly 8.9 billion shares, which was above the average of 6.9 billion.

Ticker Security Last Change % Chg
JPM JP MORGAN CHASE & CO. 107.23 -5.01 -4.46%
C CITIGROUP INC. 62.26 -2.90 [196590109]
BAC BANK OF AMERICA CORP. 26.99 -1.55 -5.43%
WFC WELLS FARGO & COMPANY 51.407 -4.54%
XLF FINANCIAL SELECT SECTOR SPDR ETF 25.96 -1.18 -4.35%
KRE SPDR SERIES TRUST S & P REGIONAL BKG ETF ] -3.05 -5.48%

Financials were the worst performing group in the S & P 500, led by JPMorgan, Citigroup, Bank of America and Wells Fargo. Regional banks, a snapshot of the domestic economy, also coincided with the larger banks.

The 10-year benchmark benchmark yield fell to 2.915 percent. This is the lowest level since September, a sign that some investors believe the US economy may be on the cusp. This was followed by a trade action between the 3-year and 5-year government bond yields, which were reversed on Monday for the first time since 2007. The reversal was a precise indicator of recessions of the past.

More from FOXBusiness.com …

US. Treasury Secretary Steven Mnuchin dismissed concerns about the financial markets on Tuesday. "I never thought markets were efficient," he told FOX Business. Maria Bartiromo opens a new window. on Tuesday. "Markets are moving too far in both directions. It is important to take this information, but I do not see the market as an indicator of the future of the economy.

Trade became stronger again than the headwind. The US-Chinese trade dispute was cold-footed by investors, though President Trump's leading advisers, including Peter Navarro, called the talks progress. "The Chinese President and the United States have a very warm and constructive exchange. Over the next 90 days, we have set out on a clear path to substantially address structural issues and market access issues. I think people should be very optimistic about options here, "Navarro said in an interview with FOX Business.

Industry figures, including Caterpillar and 3M, reported the Dow's worst outcomes, as did Boeing.

Ticker [19659003] Security Last Change % Chg
CAT CATERPILLAR INC.
MMM 3M COMPANY 202.20 -6.56 -3.14% [19659012] BA BOEING COMPANY 342.50 342.50 [1965901040]] Regarding commodities, weakness in the oil market had a negative impact on US crude oil prices of $ 52 a barrel.

Investors will take a breather tomorrow, closing the US stock markets, and government offices and companies that were former President George HW Bush's state funeral, the New York Stock Exchange, a symbol of capitalism , closes the observation of a US president in the past and rarely needs to be closed due to other events.

Suzanne O & # 39; s Halloran is editor-in-chief of FOXBusiness.com and graduated from Boston College. Follow her on Twitter @suzohalloran


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