N@N

Stock Market Today: Dow Sinks 333 Points as Mega Caps Slide

The article from Kiplinger discusses the significant downturn in the U.S. stock market, with the Dow Jones Industrial Average dropping 333 points, marking a 1% decline. This drop was largely influenced by a sell-off in mega-cap technology stocks, which dragged down major indices like the S&P 500 and Nasdaq Composite by 1.6% and 2.2% respectively. The decline was triggered by concerns over potential interest rate hikes, as indicated by the Federal Reserve's recent minutes suggesting a tighter monetary policy to combat inflation. Additionally, disappointing earnings forecasts from companies like Tesla and Netflix contributed to the negative sentiment. The broader market was also affected by rising Treasury yields, with the 10-year Treasury note yield reaching its highest level since November 2022, reflecting expectations of sustained high interest rates.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/stock-market-today-dow-sinks-333-points-as-mega-caps-slide ]