The Dow Jones had its worst week since March. What’s weighing on stocks?
Photo: X / NYSE
The Dow Jones Industrial Average, a "blue-chip" index, had its worst week since March, falling 0.2% on September 18 and 1.7% over five trading sessions, according to CNBC. This marks the third consecutive week that the index has ended lower.
The S&P 500 rose about 0.2% on Friday but fell 0.1% for the week. The Nasdaq Composite, which is focused on the technology sector, was the only one of the three major indexes to end the week higher, gaining 0.7%.
The stock market is under pressure from rising U.S. Treasury yields: The yield on 10-year Treasuries exceeded 5% this week, reaching its highest level since July 2007, before falling back but then breaking through this psychologically important threshold once again.
The market managed to partially recoup the losses caused by the Fed’s decision to raise rates for the first time in three years, particularly in the technology sector. This shows that investors are willing to look beyond concerns about rates remaining high for an extended period and are once again turning their attention to artificial intelligence, which is expected to continue supporting corporate earnings, explains CNBC.
This news story is being updated.
This article was AI-translated and verified by a human editor
