BrahMos WORLD INDIA MADHYA PRADESH BHOPAL SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA WTN SPECIAL OPINION & INTERVIEW GOSSIP CORNER RECIPES DRINKS BIG MEMSAAB 2017 BUDGET 2017 FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES Mahakal Ke Darshan
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
N
W
T
logo
Breaking News

US stocks close lower amid rising Treasury yields

Friday - May 18, 2018 3:36 am , Category : BUSINESS
 US stocks close lower amid rising Treasury yields
US stocks close lower amid rising Treasury yields
New York May 18 (IANS) US stocks ended lower as investors continued to sift through the rising Treasury yields.

The Dow Jones Industrial Average on Thursday lost 54.95 points or 0.22 per cent to 24 713.98. The S&P 500 erased 2.33 points or 0.09 per cent to 2 720.13 Xinhua news agency reported.

The Nasdaq Composite Index was down 15.82 points or 0.21 per cent to 7 382.47.

The benchmark 10-year Treasury yield climbed over 3.1 per cent on Thursday the first time since 2011 while the two-year yield hovered around its highest levels in a decade.

The yield a barometer for mortgage rates and other financial instruments has jumped recently amid market fears of rising inflation which sparked investors speculation for more rate-hikes later this year.

The probability that the US central bank will raise its benchmark rate a fourth time this year went up to a record of 51.9 per cent on Thursday according to the Chicago Mercantile Exchange s FedWatch tool.

In corporate news US multinational company Cisco Systems Inc. reported weaker-than-expected sales for its key services business on Wednesday after market closing. Shares of the company ended 3.76 percent lower on Thursday the worst performer on the Dow.

--IANS pgh/

 

 

RELATED NEWS