Stocks closed broadly lower on Wall Street and Treasury yields rose Monday after surprisingly strong economic reports highlighted the Federal Reserve's difficult fight against inflation.
restrictions following protests across major cities. That has raised hopes that disruptions to manufacturing and trade will ease.All told, roughly 95% of the stocks in the benchmark S&P 500 index were in the red, with technology companies, banks and retailers among the biggest weights on the market. Chipmaker Nvidia fell 1.6%, Bank of America slid 4.5% and Amazon dropped 3.3%.
Tesla fell 6.4% following reports that it may have to cut production in China because of weak demand.Inflation, rising interest rates and the potential for recessions throughout global economies are among the biggest concerns for investors. Wall Street has been closely watching corporate announcements and government reports to get a better sense of just how much damage is being done to the economy, as well as inflation's path ahead in 2023.
Oil and gas company stocks fell amid a broad pullback in energy prices, including an 11.2% slump in natural gas. Exxon Mobil fell 2.7%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Lags as Unwinding of 'Fed Trade' Lifts US Stocks Above 200-Day AverageBitcoin trades at a significant discount to its 200-day average as popular macro trades of 2002 unwind, leading to risk revival in traditional markets. By godbole17
Read more »
Bitcoin Above $17K as Unwinding of ‘Fed Trade’ Lifts US StocksBitcoin bounces back above $17,000 despite trading at a significant discount following the collapse of crypto exchange FTX. Arca Head of Research Katie Talati joins “First Mover” to discuss major crypto price actions and notable token activities of SRM, AAVE and APE. Plus, the latest on the correlation between digital assets and the traditional market.
Read more »
Stocks slide as strong data suggests Fed has more to doStocks closed lower on Wall Street and Treasury yields rose after surprisingly strong economic reports highlighted the Federal Reserve’s difficult fight against inflation
Read more »
Jalen Brunson puts Knicks’ losing woes on team, not Tom ThibodeauDon’t put the Knicks’ latest loss, or their underwhelming 10-13 record, on coach Tom Thibodeau.
Read more »
American World War II hero Tom Rice honored during memorial serviceStaff Sergeant Tom Rice passed away on Nov. 17, 2022, at 101 years old. He was a paratrooper for the Army's 101st Airborne Division during World War II.
Read more »
Veteran astronaut Tom Marshburn retires from NASAMarshburn flew on the space shuttle and Soyuz and SpaceX vehicles before accepting a new job with Sierra Space.
Read more »