London, Monday, 18 April 2022
US Markets Summary
On Monday, the Dow fell almost 50 points, while the S&P 500 and Nasdaq fell 0.1 percent and 0.3 percent, respectively, as a selloff in defensive companies, particularly healthcare, outweighed advances in oil and financials.
Concerns that rising inflation and increased interest rates will push the world's largest economy into recession weighed on investor confidence during a tumultuous afternoon. On heightened inflation woes and prospects of an aggressive hawkish shift in the Fed's stance, technology and other growth stocks were also under pressure.
The 10-year Treasury yield rose past 2.86 percent, a level not seen since late 2018, on heightened inflation woes and prospects of an aggressive hawkish shift in the Fed's stance.
Investors also avoided making large wagers as the US earnings season ramps up later this week, with Netflix reporting on Tuesday and Tesla on Wednesday.
Main market moves as of 4.07 p.m. ET:
· S&P 500 (^GSPC): -0.90 (-0.02%) to 4,391.69
· Dow (^DJI): -39.54 (-0.11%) to 34,411.69
· Nasdaq (^IXIC): -18.72 (-0.14%) to 13,332.36
· Crude (CL=F): +$0.94 (+0.88%) to $107.89 a barrel
· Gold (GC=F): +$6.80 (+0.34%) to $1,981.70 per ounce
· 10-year Treasury (^TNX): +3.4 bps to yield 2.8620%
(Source: Yahoo Finance // Edited by: The Decision Maker)