Wall Street retreats from its record as stocks fall worldwide

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1. 1h ago

   Wall Street Retreats From Record as Stocks Fall Worldwide

   U.S. stocks pulled back from record highs, led by declines across major indexes as bond yields and oil prices climbed. The S&P 500 slipped 0.2 percent following a prior session that topped its previous all-time high set in August. Meanwhile, the Dow Jones Industrial Average dropped 302 points, or 0.6 percent by midday, and the Nasdaq composite lost 0.4 percent. Market pressure intensified as Treasury yields swung, with the 10-year yield testing multidecade highs near levels last seen in 2002.

   Why it matters

   The downturn follows a recent earnings-driven rally that pushed Wall Street indexes to record levels. Rising Treasury yields and fluctuating commodity prices have created a messy session across global asset classes, weighing on investor sentiment. Observers note that shifting macroeconomic forces are challenging the market's recent upward momentum as participants monitor upcoming Federal Reserve minutes.

   What is confirmed

   • The S&P 500 fell 0.2 percent on Wednesday, a day after topping its prior all-time high set in August.
   • The Dow Jones Industrial Average was down some 302 points, or 0.6 percent, as of midday.
   • The Nasdaq composite fell 0.4 percent during the session.
   • The yield on the 10-year Treasury climbed as high as 5.36 percent in the morning, up from 5.27 percent late Tuesday.
   • The 10-year US Treasury bond yield climbed near its highest level since 2002 as the bond market swung.

   What to watch next

   • Upcoming release of Federal Reserve minutes
   • Further movements in 10-year Treasury yields and oil prices
   • Corporate earnings reports and their impact on consumer-driven stocks
   Sources used for this update (18)

   1. www.aol.com — Global shares mostly advance after Wall Street gains and oil prices fall
   2. MarketWatch — Stock Market Today: S&P 500, Dow and Nasdaq set for a steady start after record day as oil prices, bond yields push higher; Fed minutes on tap
   3. Reuters — Wall St futures fall as yields and oil rebound; Fed minutes in focus
   4. WSJ — U.S. Stocks Fall as Treasury Yields Test Multidecade Highs
   5. CNBC — Stock futures are little changed after S&P 500 retreats from record: Live updates
   6. AP News — Wall Street retreats from its record as stocks fall worldwide
   7. www.bnnbloomberg.ca — Markets today: Wall Street retreat as stocks fall worldwide
   8. www.koreatimes.co.kr — Wall Street retreats from its record as stocks fall worldwide
   9. www.ksat.com — Wall Street retreats from its record as stocks fall worldwide
   10. jamaica-gleaner.com — Wall Street retreats from its record as stocks fall worldwide | Business | Jamaica Gleaner
   11. www.commbank.com.au — Stocks fall worldwide as Wall Street retreats from its record
   12. www.latimes.com — Wall Street retreats from its record as stocks fall worldwide
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