Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets snap six-day winning streak

21-Feb2018

US markets snap six-day winning streak

The US market snapped six-day winning streak on Tuesday, with the Dow and S&P 500 weighed down by a steep loss for Walmart as investors also watched climbing bond yields, which could make equities less attractive at current levels. A renewed push higher for US bond yields - with the dollar also stronger - was being blamed for the market's weakness. Climbing bond yields - reflecting rising inflation worries - were the spark that set off the market meltdown earlier this month. Some of the US government's short-term borrowing costs rose to their highest level in more than nine years as the government raised $179 billion in the Treasury securities market to fund spending and make debt payments. Tuesday's auctions made up more than half of the $258 billion in Treasury debt supply scheduled for sale this week, which is projected to raise nearly $48 billion in new cash for the government. Wednesday's release of minutes from the Federal Reserve's January policy meeting, the last chaired by Janet Yellen, will be combed for clues to the central bank's thinking on interest rates.

The Dow Jones Industrial Average lost 254.63 points or 1.01 percent to 24,964.75, Nasdaq was down by 5.157 points or 0.07 percent to 7,234.31, and S&P 500 dropped 15.96 points or 0.58 percent to 2,716.26.




Related News

View all news

US markets end higher on trade optimism

The US markets ended higher on Wednesday as traders keep up hope that the US and China will make progress on resolving their trade dispute. The strength on markets came in after President Donald Trump......

US markets end mostly lower on Tuesday

The US markets ended mostly lower on Tuesday after a contentious fight between President Donald Trump and Democratic leadership over border security. Trump threatened to shut down the government if more......

US markets end marginally higher on Monday

The US markets ended marginally higher on Monday as traders went bargain hunting after the early weakness extended the sell-off seen last week. Further, some support also came in as renewed confidence......

Top News

View all news

Patels Airtemp receives settlement notice from SEBI

Patels Airtemp (India) has received from SEBI, Summary Settlement Notice vide its Letter dated December 12, 2018 for settlement amount of Rs 3,68,156 against violation of Regulation 7(2)(b) of SEBI (Prohibition......

IndiGo in initial discussion with Qatar, Turkish Airlines for global expansion: Report

In order to increase its global footprint, InterGlobe Aviation (IndiGo) is reportedly in preliminary discussion with Qatar Airways and Turkish Airlines. The Budget carrier is looking for interline and......

Talwalkars Lifestyles integrates with Growfitter

Talwalkars Lifestyles has integrated with Growfitter to introduce the country's first ever AI (Artificial Intelligence) based Incentivized Wellness Program. The Growfitter FITKIT Program is a technologically......