As Treasury yields rose to multiyear highs in response to the Federal Reserve’s decision to keep interest rates higher for longer, stocks declined on Thursday, compounding losses for the week.
By 200 points, or 0.6%, the Dow Jones Industrial Average fell. The Nasdaq Composite dropped 1.3% while the S&P 500 fell 1.1%.
The Nasdaq was expected to decrease by about 3%, while the Dow and S&P 500 were expected to close the week down roughly 1% and 2%, respectively.
Source (CNBC)
