{"id":66064,"date":"2023-09-27T13:00:06","date_gmt":"2023-09-27T17:00:06","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/dow-falls-nearly-200-points-stocks-extend-losses-as-climb-in-treasury-yields-resumes-dollar-rises\/"},"modified":"2023-09-27T13:00:09","modified_gmt":"2023-09-27T17:00:09","slug":"dow-falls-nearly-200-points-stocks-extend-losses-as-climb-in-treasury-yields-resumes-dollar-rises","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=66064","title":{"rendered":"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002550211\" role=\"document\">\n<p>U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on Wall Street fueled by rising Treasury yields as investors weighed the outlook of the Federal Reserve\u2019s monetary policy and the possibility of a government shutdown.<\/p>\n<p>Meanwhile, U.S. oil prices were trading at their highest intraday levels in 2023, reviving inflation worries and adding to concerns of tight crude supply amid OPEC+ production cuts while the dollar reached new 10 month highs. <\/p>\n<div class=\"paywall\">\n<h2>How are stock indexes trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      The S&amp;P 500<br \/>\n        SPX<br \/>\n       lost 20 points, or 0.5% to 4,254<\/p>\n<\/li>\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       dropped 191 points, or 0.6% to 33,427<\/p>\n<\/li>\n<li>\n      The Nasdaq Composite<br \/>\n        COMP<br \/>\n       was off 50 points, or 0.4% to 13,015<\/p>\n<\/li>\n<\/ul>\n<p>On Tuesday, the Dow industrials fell 388 points, or 1.14%, to end at 33,619, suffering its largest one-day point and percentage decline since March 22, according to Dow Jones Market Data. The S&amp;P 500 declined 1.5%, to 4,274, while the Nasdaq Composite dropped 1.6%. <\/p>\n<h2>What\u2019s driving markets<\/h2>\n<p>U.S. stock indexes were turning lower midday Wednesday, despite positive economic data release from the Commerce Department, which showed orders for long-lasting or durable goods rose a strong-than-expected 0.2% in August and briefly boosted market sentiment in the early morning trade. Economists polled by the Wall Street Journal had forecast a 0.5% decline.<\/p>\n<p>Durable-goods orders minus defense orders actually fell 0.7% last month, but the so-called core orders, which omits defense and transportation and is a proxy for broader business investment, rose 0.9%, the government said. <\/p>\n<p>Earlier a dip in Treasury yields helped lift the stock indexes Wednesday morning with the yield on the 2-year Treasury<br \/>\n        BX:TMUBMUSD02Y<br \/>\n       fell 3 basis points to 5.104% from 5.129% on Tuesday. However, the yield on the 10-year Treasury\u00a0<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       resumed its climb, up 3 basis points, at 4.583%, according to FactSet data.<\/p>\n<p>\u201cInvestors continue to grapple with the implications of an extended period of elevated interest rates and the potential economic repercussions, and they seem to favor the cut-run maneuver this week,\u201d said Stephen Innes, managing partner at SPI Asset Management.<\/p>\n<p>\u201cHeightened investor anxiety due to the looming possibility of a partial U.S. government shutdown is not helping matters,\u201d Innes added.<\/p>\n<p>Melissa Brown, head of applied research at Axioma, said there\u2019s nervousness in the financial markets that the Fed will still raise interest rates despite cooling inflation, so investors are afraid that policymakers will \u201cmess it up by going too far.\u201d<\/p>\n<p>\u201cWe\u2019ve already seen for the past couple of weeks the investor sentiment, particularly in the U.S., has become more negative,\u201d Brown told MarketWatch via phone on Wednesday. \u201c\u2026our view is if sentiment is negative, bad news is going to be punished a lot. [If] good news is not [so] good, it\u2019s certainly not going to be highly rewarded.\u201d<\/p>\n<p><strong>MarketWatch Live Coverage:<\/strong> Government shutdown: Aid for food, housing on the line with 3 days left for deal<\/p>\n<p>Jeffrey J. Roach, chief economist at LPL Financial said investors should expect a choppy market from the trifecta of a spike in energy prices, the restart of student loan payments, and a looming U.S. government shutdown due impasse over the budget deficit in Congress. <\/p>\n<p>As a result, the Fed may end up being more patient and cautious as it assesses the economy as the unknown economic impact of a government shutdown will likely keep policymakers from altering their interest-rate policy, Roach said in emailed comments. <\/p>\n<p>\u201cThe current dynamics support our baseline view that a recession could begin by end of year or early next year if consumers pull back spending,\u201d he added. <\/p>\n<p>The CBOE VIX index<br \/>\n        VIX<span>,<\/span><br \/>\n       Wall Street\u2019s so-called fear gauge, hit a four-month high above 19 on Wednesday. And the S&amp;P 500\u2019s (SPX) 14-day relative strength index, a closely watched momentum gauge, finished Tuesday\u2019s session at 30.3, a fraction above the threshold of \u2018oversold\u2019 territory, and its lowest level of the year. <\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n      Shares of <strong>Costco Wholesale Corp.<\/strong><br \/>\n        COST,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201191698\/composite\" class=\"positive\">+1.54%<\/bg-quote><br \/>\n       gained 1.3% on Wednesday after the warehouse club\u2019s earnings topped Wall Street estimates, and the company\u2019s chief financial officer said theft has not risen \u201cdramatically\u201d over the past year. <\/p>\n<\/li>\n<li>\n      <strong>Paychex Inc.<\/strong><br \/>\n        PAYX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202030365\/composite\" class=\"positive\">+4.15%<\/bg-quote><br \/>\n       jumped 4% after the human resources services company reported fiscal first-quarter profit and revenue that rose above expectations, and nudged up its full-year outlook.<\/p>\n<\/li>\n<li>\n      <strong>Micron Technology\u2019s<\/strong><br \/>\n        MU,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205710729\/composite\" class=\"negative\">-1.07%<\/bg-quote><br \/>\n       stock dropped 1.1% as the memory-chip maker\u00a0is set to post its fiscal fourth-quarter results Wednesday after the market closes. The memory-chip maker is expected to report $3.95 billion in revenue, down from $6.64 billion a year earlier, according to FactSet.<\/p>\n<\/li>\n<\/ul><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-futures-rise-as-treasury-yields-pull-back-95e8a682?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on Wall Street fueled by rising Treasury yields as investors weighed the outlook of the Federal Reserve\u2019s monetary policy and the possibility of a government shutdown. Meanwhile, U.S. oil prices were trading [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":66065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-66064","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=66064\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=66064\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-27T17:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-27T17:00:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1695834007_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=66064#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=66064\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises\",\"datePublished\":\"2023-09-27T17:00:06+00:00\",\"dateModified\":\"2023-09-27T17:00:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=66064\"},\"wordCount\":770,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=66064#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=66064\",\"url\":\"https:\/\/ifintechworld.com\/?p=66064\",\"name\":\"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-27T17:00:06+00:00\",\"dateModified\":\"2023-09-27T17:00:09+00:00\",\"description\":\"U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=66064#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=66064\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=66064#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises | iFintechWorld","description":"U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=66064","og_locale":"en_US","og_type":"article","og_title":"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises | iFintechWorld","og_description":"U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on","og_url":"https:\/\/ifintechworld.com\/?p=66064","og_site_name":"iFintechWorld","article_published_time":"2023-09-27T17:00:06+00:00","article_modified_time":"2023-09-27T17:00:09+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1695834007_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=66064#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=66064"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises","datePublished":"2023-09-27T17:00:06+00:00","dateModified":"2023-09-27T17:00:09+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=66064"},"wordCount":770,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=66064#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=66064","url":"https:\/\/ifintechworld.com\/?p=66064","name":"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-27T17:00:06+00:00","dateModified":"2023-09-27T17:00:09+00:00","description":"U.S. stock indexes were lower in midday trade on Wednesday, with the Dow industrials extending the previous day\u2019s losses following a broad sell-off on","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=66064#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=66064"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=66064#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Dow falls nearly 200 points, stocks extend losses as climb in Treasury yields resumes, dollar rises"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/66064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66064"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/66064\/revisions"}],"predecessor-version":[{"id":66066,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/66064\/revisions\/66066"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/66065"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}