Dow drops more than 500 points as bond yields rise and earnings season gets into full swing
Source: CNN
All three major indexes opened lower and extended their losses throughout the morning. By midday, the Dow (INDU) was down 1.5%, or 530 points, while the broader S&P 500 (SPX) also dropped 1.6%. The Nasdaq Composite (COMP) was down 1.8%
The market was closed on Monday for Martin Luther King Jr. Day.
"The culprit this morning, as it seems to be every day, is interest rates as the yield on the 10-year tops 1.8% and the 2-year yield moved back over 1%," Paul Hickey of Bespoke Investment Group said in an email to clients.
Read more: https://www.cnn.com/2022/01/18/investing/dow-stock-market-bonds-earnings-today/index.html
Gore1FL
(21,127 posts)I saw everything in the red today, but I didn't get a chance to investigate why, in a meaningful way.
NoMoreRepugs
(9,412 posts)Clinton years the SPX up over 200% - average 10 year US Treasury yield btwn 4-6% - budget surpluses for the federal government in 2 or 3 of those years. How the FUCK can the sky be falling with a 1.8% 10 year??? Other than corporate America and the Billionaire Boys Club wanting practically free money at the borrowing window.
Crowman2009
(2,494 posts)That way I won't have to use my salary for spending money.
Crowman2009
(2,494 posts)I've about had it with stock investing! Now I'm just going with my modified investment plan that involves my 401(k), savings bonds, and save one year's worth of income in which half of it is put in CDs. The last one helped out quite a bit last year with I took out an auto loan from the same credit union I have my checking/savings/CDs in and was quickly able to get it without a co-signer.