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Dow Drops More Than 200 Points As Rates lide

Eray Bekir
Market News

Stocks fell on Tuesday as a decline in interest rates during the U.S.-China trade war sparked worries about a possible slowdown in the economy.

The Dow Jones Industrial Average dropped 237.92 points to 25,347.77, giving up a 131-point gain from earlier in the day. The S&P 500 pulled back 0.8% to 2,802.39 as the consumer staples and utilities sectors lagged. The Nasdaq Composite fell 0.4% to end the day at 7,607.35. The S&P 500 and Nasdaq traded higher earlier in the session. The major indexes slid to their session lows in the last hour of trading.

The yield on the benchmark 10-year note fell to around 2.26%, its lowest level in 19 months. Yields move inversely to prices.

Bank shares fell broadly amid the lower interest rates. Goldman Sachs dropped 1.8% while Citigroup and J.P. Morgan Chase fell 0.9% and 1.1%, respectively. Morgan Stanley and Wells Fargo also slipped.

The yield on the benchmark 10-year Treasury note fell to a 19-month low Tuesday as Wall Street grew more certain that the U.S.-China trade war will last longer and afflict GDP growth more than first thought.



International Financial Markets Department

Euro-Finance Ltd.



*This material should not be considered as a recommendation for buying/selling securities.