Market Snapshot: Dow falls over 150 points with Treasury yields near 16-year highs, oil jumping and tech earnings ahead

by | Oct 18, 2023 | Stock Market

U.S. stock indexes traded lower Wednesday afternoon as Treasury bond yields remained at 16-year highs, while investors digested more corporate results as the third-quarter earnings-reporting season got under way in earnest. Geopolitical angst also hit market sentiment amid the escalation of violence in the Middle East.

How stock indexes are trading
The Dow Jones Industrial Average
fell 154 points, or 0.5%, to 33,840

The S&P 500
dipped 35.7 points, or 0.8%, to 4,337

The Nasdaq Composite
eased 150 points, or 1.1%, to 13,382

On Tuesday, the Dow industrials and the S&P 500 ended nearly flat, while the Nasdaq Composite dropped 0.3%, according to FactSet data. What’s driving markets The volatility in the U.S. government-debt market continued on Wednesday, weighing on stocks as investors parsed the third-quarter earnings results and struggled to shrug off concerns that the conflict between Israel and Hamas may lead to a broader war in the Middle East. Long-term Treasury yields advanced further above their hi …

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