Dow Jones Falls, Nasdaq Leads Drawback As Janet Yellen Cautions Of Increasing Loan fees

 Dow Jones Falls, Nasdaq Leads Drawback As Janet Yellen Cautions Of Increasing Loan fees






The Dow Jones Modern Normal auctions off in the present market. The major lists exchanged close intraday lows after Depository Secretary Janet Yellen referenced loan fees may need to ascend to guarantee the economy doesn't overheat. The Nasdaq drove on the drawback as innovation stocks broadened Monday's decreases. 

Securities exchange Today 

At around 12 p.m. ET, the Nasdaq composite fell generally 2.5%, driving on the drawback. The S&P 500 exchanged around 1.2% lower, while the Dow Jones posted a deficiency of 0.5%. The little cap Russell 2000 file held a deficiency of 2%. Volume was running higher on the NYSE and the Nasdaq versus a similar time on Monday.






Stock Market Today
At around 12 p.m. ET, the Nasdaq composite fell roughly 2.5%, leading on the downside. The S&P 500 traded around 1.2% lower, while the Dow Jones posted a loss of 0.5%. The small-cap Russell 2000 index held a loss of 2%. Volume was running higher on the NYSE and the Nasdaq vs. the same time on Monday.


Stocks opened lower on Tuesday and continued to slide in morning trading. Comments from Treasury Secretary Janet Yellen also hindered the major indexes. "It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat," she said during an economic seminar.


Inflation concerns have arisen due to the recent heavy stimulus spending and rapid economic growth. Investors may want to keep an eye on possible inflation signals, including those seen in oil prices, copper prices and bond yields. West Texas intermediate oil rose nearly 2%, to $65.70 a barrel, its highest price since March 15. Meanwhile, copper prices traded above $4.53 a pound and are now nearing their record high of $4.54 from February 2011.


Bond yields are holding support at their 50-day moving average. The 10-year yield traded as low as 1.57% early Tuesday. Yields have backed off from recent highs of nearly 1.76% in late March, the highest level since January 2020.


Despite a strong earnings season, the market is cooling off as the Dow Jones and S&P 500 retreat from recent all-time highs. Meanwhile, the Nasdaq fell below a key area of support at the 21-day exponential moving average.


While the stock market status remains in a "confirmed uptrend," Monday's Big Picture column commented: "The price action in the major stock indexes might look fine, but the action beneath the surface has resulted in a challenging environment for growth investors. If you haven't been in sync with the market, and your portfolio is having a hard time making headway, it doesn't make sense to be 100% invested. Cut your laggards loose and hold on to your best performers. It's OK to hold some cash at this point."


Comments