US Market Indexes Mixed With Further Increases in Treasury Yields

US Market Indexes Mixed With Further Increases in Treasury Yields

Wall Street dropped sharply on Tuesday as warnings by bellwether companies of higher costs reverberated as the benchmark USA 10-year Treasury yield pierced the 3$ level for the first time in four years.

The Dow Jones industrial average fell 103 points, or 0.4 percent, to 23,920.

S&P 500 futures were recently down 0.2% after the index.

The Nasdaq composite tumbled 121.25 points, or 1.7 percent, to 7,007.35.

- USA stocks are sinking Tuesday as investors fear that rising oil prices and other costs will slow down growth in company profits. Moves for the equity markets came against the backdrop of rising borrowing costs, which were causing a reassessment of stock valuations. Shares sold off after the company warned revenue growth would slow in the second half of the year.

Google Parent company Alphabet's stock fell 5 percent despite reporting a $9.4 billion first-quarter increase in net profit on Monday.

Other companies, including Lockheed and 3M, also gave disappointing updates, adding to the sting of rising Treasury yields.

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Other technology stocks in the FAANG group, Facebook, Amazon.com Inc and Netflix Inc, also weighed on the Nasdaq.

Aerospace company Boeing was an exception, as it topped Wall Street's estimates and raised its forecasts for the year. Investors expected strong profit growth this year thanks to the growing global economy and the corporate tax cut President Donald Trump signed at the end of 2017.

"It's not a mystery why these things are happening", Baumohl said. The 10-year yield traded at 2.43 percent at the beginning of the year. YIELDS QUESTION: Bond prices slipped again Tuesday.

Investor anxiety stayed elevated after Tuesday when the yield on the 10-year US Treasury hit 3.0 percent for the first time in more than four years, raising concerns that lending rates will rise faster.

US crude oil futures settled 1.4 per cent lower at $67.70 a barrel as concerns faded over the possibility that the United States might reinstate sanctions against Iran. Following a successful test of the round $30 level yesterday, TWTR stock is set to open up 2.6% this morning - though not as much as one volatility trader was hoping for.

Twitter dropped 1.9 percent despite $61 million in first-quarter profits, its second straight month of positive earnings.

Declining issues outnumbered advancing ones on the NYSE by a 1.94-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners. Hong Kong's Hang Seng lost 1.1 percent and South Korea's Kospi lost 0.6 percent. The Dow finished up about 60 points, or 0.23, at 24,083, with Boeing's stock contributing about 96 points to the blue-chip average.

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Mr Jaitley said, charges leveled by the opposition are those issues which have been settled by judicial orders or by precedent. BJP leader and FM Arun Jaitley said the Congress and its friends have started using impeachment as a political tool.

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