U.S. stocks close》U.S. bond yields rise! Dow Jones fell 341 points, TSMC ADR fell more than 2%
Quick Look
- U.S. stocks closed lower on Wednesday, with the S&P 500 and Nasdaq ending their consecutive gains, and the Dow Jones Index falling 0.66%.
- Treasury bond yields climbed to their highest level since 2002, triggering concerns about inflation and debt.
- Banks and technology stocks led the decline, with TSMC ADR falling 2.09%.
AI-generated summary
Why It Matters
The S&P 500 and Nasdaq had just hit record highs on Tuesday, and Wall Street ended lower on Wednesday as U.S. Treasury yields climbed and worries about inflation and rising debt led to losses.
U.S. stocks closed lower on Wednesday. (European News Agency)
[Instant News/Comprehensive Report] The S&P 500 and the Nasdaq just hit record highs on Tuesday. However, as rising U.S. Treasury bond yields triggered concerns about rising inflation and debt, Wall Street stocks closed lower on Wednesday. The S&P 500 and the Dow ended their previous four consecutive days of gains, while the Nasdaq fell for the first time in six trading days. The Dow Jones Industrial Average fell 341.41 points or 0.66%, the S&P 500 Index fell 0.22%, the Nasdaq Index fell 0.22%, the Philadelphia Semiconductor Index fell 1.15%, and TSMC ADR fell $10.10 or 2.09% to close at $472.20.
According to comprehensive foreign media reports, the 10-year U.S. Treasury bond yield rose to 5.35% on Wednesday, the highest since April 2002; the 30-year yield rose to 5.723%, the highest since May 2002. The U.S. Treasury Department auctioned $39 billion in 10-year Treasury bonds, and the yield fell back to about 5.28% after the auction.
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In addition, minutes of the Federal Reserve's September meeting showed that officials expected to raise interest rates before the end of the year, but did not specify a specific time.
U.S. bond yields continue to rise, affecting key areas of the market. For example, bank stocks fell in response, with Goldman Sachs falling 0.93%, Bank of America falling 1.05%, and Wells Fargo falling 1.53%. Technology stocks also fell under pressure on concerns that higher borrowing costs would limit AI construction. Information security company CrowdStrike fell 4.81%, and Meta fell 2.38%.
The Dow Jones index fell 341.41 points, or 0.66%, to close at 51179.87 points.
The Nasdaq index fell 61.20 points or 0.22% to close at 27538.69 points.
The S&P 500 index fell 17.16 points, or 0.22%, to close at 7801.77 points.
The Philadelphia Semiconductor Index fell 151.67 points or 1.15% to close at 13066.15 points.
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What to Watch
AI outlook — possibilities, not facts
The Fed will raise interest rates before the end of the year
Likely · Within months
Open Questions
- When will the Fed actually raise interest rates?
- Will U.S. Treasury yields rise further?
- When will technology stocks stop falling and stabilize?
