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Stocks Decline as Worries About Rising Rates Resurface

On Tuesday, U.S. stocks fell as investors were once again put off by rising bond yields and the third-quarter earnings season was getting off.

A decrease of 96 points, or 0.3%, occurred in the Dow Jones Industrial Average. The Nasdaq Composite dropped 1.1% and the S&P 500 fell 0.7%.

The 10-year U.S. Treasury yield crossed the 4.80% mark, marking its highest level since Oct. 6 when it traded at 4.887%. The action was in response to retail sales figures that were hotter than expected by Dow Jones economists who were surveyed.

In recent weeks, the broad market has been under pressure from rising rates as investors weigh the possibility of more restrictive Federal Reserve policies than initially anticipated. Investors have taken into account the probable effects of the Israel-Hamas conflict on the world economy.

The third-quarter earnings season is off to a strong start, which is undoubtedly easing some worries.

The stock increased more than 1% in premarket trade as Bank of America’s results beat analyst forecasts. Investors scrutinised Goldman Sachs’ most recent report as the financial behemoth fluctuated flat in premarket trade on Tuesday.

Source (CNBC)

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