*S&P 500, NASDAQ FALL TO START THE NEW MONTH AS RISING YIELDS SPOOK INVESTORS -
and Nasdaq indexes fell on Wednesday as Treasury yields surged after manufacturing data pointed to persistent price pressures, while comments from Federal Reserve policymakers backed a hawkish policy stance for a longer period.
The two-year yield, which closely tracks short-term interest rate expectations, rose to 4.9%, its highest level since 2007. [US/] "You also got a tick up in the ISM prices paid, which means that prices generally are rising now for manufacturing. It just means that the Federal Reserve is likely to push further into restrictive territory with their policy and stay there longer."
Adding to worries, Minneapolis Fed President Neel Kashkari, a voter in the rate-setting committee in 2023, said he is"open-minded" on either a 25 basis point or a 50 basis point rate hike in March. Atlanta Fed President Raphael Bostic said monetary policy will have to remain tight"until well into 2024".
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500, Dow slip in final session of turbulent February By Reuters*U.S. STOCK FUTURES STRUGGLE FOR DIRECTION AT THE END OF VOLATILE FEBRUARY - $DIA $SPY $QQQ 🇺🇸🇺🇸
Read more »
S&P 500 Futures track Wall Street’s gains despite sluggish Treasury bond yieldsS&P 500 Futures track Wall Street’s gains despite sluggish Treasury bond yields – by anilpanchal7 RiskAppetite SP500 Futures YieldCurve CentralBanks
Read more »
Treasure trove of 500+ retro Apple products up for auctionA treasure trove of over 500 retro Apple products is being auctioned off from one of the biggest collections in the world
Read more »
EXCLUSIVE: Satori Fund founder Dan Niles warns S&P 500 could test 3000 by mid-year By Investing.com*EXCLUSIVE: SATORI FUND FOUNDER DAN NILES WARNS S&P 500 COULD TEST 3000 BY MID-YEAR - $SPY $SPX $ES_F
Read more »
S&P 500 rally is a bull trap; bear market will resume in March - MS By Investing.com*MORGAN STANLEY'S MIKE WILSON WARNS S&P 500 RALLY IS A BULL TRAP; BEAR MARKET WILL RESUME IN MARCH - $DIA $SPY $QQQ 🇺🇸 🇺🇸
Read more »
500+ students flood the Supreme Court, support student-debt reliefOver 500 students are at the Supreme Court to plug Biden's student-loan forgiveness because the 'economic mobility of over 40 million Americans is dependent on the survival of this program'
Read more »