Reported 4 months ago
U.S. stocks closed lower on Wednesday due to rising Treasury yields and concerns about potential interest rate cuts from the Federal Reserve. The Dow fell over 1%, reaching its lowest level in nearly a month, while all S&P 500 sectors ended lower. The 10-year U.S. Treasury note yield hit four-week highs at 4.6%, contributing to the pressure on equities. The market remains uncertain about the timing and size of potential rate cuts, with traders now expecting only one cut by the end of the year compared to previous expectations of multiple cuts. Stocks held losses following the release of the Beige Book and will be closely watching Friday's release of April's Personal Consumption Expenditure data.
Source: YAHOO