Benchmark indexes had been volatile since early in the day, threatening a nine-day streak of gains, their longest winning streak since 2004, but an afternoon government bond auction showed weak demand, pushing long-term yields higher. This put pressure on stock prices.
The decline accelerated after Federal Reserve Chairman Jerome Powell said the central bank’s progress on combating inflation was “not guaranteed” and that further rate hikes remained a possibility.
US indexes fell. The S&P 500, Nasdaq, and Dow all fell more than 0.7%.
Disney gathers It was the biggest one-day jump since late 2020 after the company announced better-than-expected profits and $2 billion in cost savings.
Oil has risen. Benchmark U.S. crude oil closed Wednesday at its lowest since July, but has recently traded around $76 a barrel.
data showed china Return to deflationemphasized the Chinese government’s challenges in revitalizing domestic demand.
Government bond yields rose slightly. The yield on 10-year government bonds exceeded 4.6%. The yield on the 30-year bond also rose.
