Dow Ends Nearly 400 Points Lower as Falling Treasury Yields Underline Economic Jitters
Tuesday, 13 August 2019 03:28 WIB |
MARKET UPDATE |DOW JONESS & P 500SahamAS
Stocks fell sharply Monday, appearing to take a cue from a slump in Treasury yields that reflected mounting worries about the economic outlook and geopolitical concerns.
The Dow Jones Industrial Average ended around 391 points lower, down 1.5%, near 25,896, according to preliminary figures while the S&P 500 slumped around 36 points, or 1.2%, to close around 2,882. The Nasdaq Composite dropped around 96 points to end near 7,863, a loss of 1.2%. The yield on the 10-year Treasury slumped around 9 basis points to 1.644%, its lowest since October 2016. The slump in yields, which can cut into lending margins, sent financial stocks skidding, with Bank of America Corp. down 2.5% and Dow component Goldman Sachs Group Inc. falling 2.7%. All 11 S&P 500 sectors ended lower, with financials leading the way, down 1.9%.
Source : Marketwatch