New York Stock Markets Fell Across the Board for Two Consecutive Days Amid Soaring U.S. Treasury Yields and Oil Prices
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4 Articles
The New York stock market fell for two consecutive days due to a surge in U.S. Treasury yields and concerns over oil supply from the Middle East. The 10-year Treasury yield surpassed 5%, and major oil grades hit their highest levels since May. Risk aversion is spreading as the market treats a Federal Reserve interest rate hike as a foregone conclusion.
After the recent weakness on Wednesday, the New York Stock Exchanges largely stabilised somewhat, with a decline in the recent sharp rise in oil prices underpinning stock prices.
Major U.S. stock markets fell across the board for two consecutive days as U.S. Treasury yields and international oil prices surged. On the 15th (local time), the S&P 500 index fell 0.45% from the previous day to 7,585.
On the 15th, the Dow Jones Industrial Average on the New York Stock Exchange continued its decline, closing down 328.09 points at 52,093.11. Selling orders dominated due to concerns about a US interest rate hike, driven by rising oil prices and persistently high long-term interest rates.
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