Wall Street slumps to worst day since April on worries about interest rates
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Most U.S. stocks slumped on Thursday after strong economic reports raised the possibility of interest rates staying high. The S&P 500 fell 0.7%, the Dow Jones dropped 1.5%, and the Nasdaq slipped 0.4%. Treasury yields rose after reports showed growth in U.S. business activity and a solid job market. The Federal Reserve may wait longer before cutting interest rates, potentially causing a deep recession. Hopes for rate cuts this year have diminished. Stocks of utilities and real-estate companies experienced sharp losses. Live Nation Entertainment tumbled 7.8% after being accused of running an illegal monopoly. VF Corp. fell 2.9% after reporting a loss for the latest quarter. Nvidia's stock surged 9.3% after delivering a strong profit report. The S&P 500 fell 39.17 points to 5,267.84, the Dow dropped 605.78 points to 39,065.26, and the Nasdaq composite fell 65.51 points to 16,736.03. Indexes were mixed in Europe and Asia.
#WallStreet #InterestRates #StockMarket #Economy #FederalReserve #TreasuryYields #BusinessActivity #JobMarket #Recession #Utilities #RealEstate #LiveNationEntertainment #VfCorp #Nvidia #S&p500 #DowJones #Nasdaq
https://www.latimes.com/business/story/2024-05-23/stock-market-today-wall-street-slumps-to-worst-day-since-april-on-worries-about-interest-rates
Los Angeles Times /
npub1ka…ct50x
2024-05-23 21:55:07
Author Public Key
npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50xPublished at
2024-05-23 21:55:07Event JSON
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"content": "Wall Street slumps to worst day since April on worries about interest rates\n==========\n\nMost U.S. stocks slumped on Thursday after strong economic reports raised the possibility of interest rates staying high. The S\u0026P 500 fell 0.7%, the Dow Jones dropped 1.5%, and the Nasdaq slipped 0.4%. Treasury yields rose after reports showed growth in U.S. business activity and a solid job market. The Federal Reserve may wait longer before cutting interest rates, potentially causing a deep recession. Hopes for rate cuts this year have diminished. Stocks of utilities and real-estate companies experienced sharp losses. Live Nation Entertainment tumbled 7.8% after being accused of running an illegal monopoly. VF Corp. fell 2.9% after reporting a loss for the latest quarter. Nvidia's stock surged 9.3% after delivering a strong profit report. The S\u0026P 500 fell 39.17 points to 5,267.84, the Dow dropped 605.78 points to 39,065.26, and the Nasdaq composite fell 65.51 points to 16,736.03. Indexes were mixed in Europe and Asia.\n\n#WallStreet #InterestRates #StockMarket #Economy #FederalReserve #TreasuryYields #BusinessActivity #JobMarket #Recession #Utilities #RealEstate #LiveNationEntertainment #VfCorp #Nvidia #S\u0026p500 #DowJones #Nasdaq\n\nhttps://www.latimes.com/business/story/2024-05-23/stock-market-today-wall-street-slumps-to-worst-day-since-april-on-worries-about-interest-rates",
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