it is hard to see upside in $SPX when $
Dow falls 350 points as higher rates keep Wall Street on edge
- The Dow Jones industrial average traded 350 points lower after opening just above the flatline.
- The benchmark 10-year U.S. note yield traded at 2.873 percent Thursday, continuing its rise to multi-year highs.
- The rise in yields and sharp moves in obscure volatility funds that use leverage have been cited by traders as reasons for the market’s recent pullback and volatility spike.
Stocks modestly lower at market open from CNBC.
Stocks fell sharply on Thursday as strong earnings and economic data were not enough to quell jitters from higher interest rates on Wall Street.
The Dow Jones industrial average traded 350 points lower after opening just above the flatline. The S&P 500 pulled back 1 percent after a higher open, with telecommunications as the worst-performing sector. The Nasdaq composite fell 1.2 percent.
The benchmark 10-year U.S. note yield traded at 2.866 percent Thursday, continuing its rise to multi-year highs. The move higher follows the release of strong jobless claims data. Weekly jobless claims hit a 45-year low, totaling 221,000. They fell from 230,000 in the previous week.A rise in yields Wednesday led to the Dow posting its biggest one-day reversal since August 2015.
this is how market sentiment works these day pic.twitter.com/3Hl7zk6NZ9
— StockCats (@StockCats) February 8, 2018
h/t @StockBoardAsset