Dow Snaps Three-Day Win Streak as Bond Yields Beat Retreat
Wednesday, 21 August 2019 03:13 WIB | MARKET UPDATE |DOW JONESS & P 500SahamAS

U.S. stocks finished lower on Tuesday as geopolitical jitters and U.S. economic concerns hung over investors ahead of the Federal Reserve's Jackson Hole symposium at the end of the week.

The S&P 500 fell 0.8% to end around 2,901. The Dow Jones Industrial Average shed 173 points, or 0.7%, to end near 25,962, based on preliminary numbers. The Nasdaq Composite slipped 0.7% to finish around 7,949.

Fears over Italy's political situation grew after Prime Minister Giuseppe Conte resigned following a spat with Matteo Salvini, leader of the League party. In the U.S., President Donald Trump lambasted the Federal Reserve for failing to slash interest rates. The 10-year Treasury note yield fell 4.6 basis points to 1.557%. Bond prices move in the opposite direction of yields. In company news, shares of Home Depot Inc. rose more than 4% after its earnings beat analysts' expectations.

Source : Marketwatch

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