Friday, May 17, 2024
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The Dow Drops For A Third Day And Drops 200 Points

As Treasury yields rose to multiyear highs amid the Federal Reserve’s promise to maintain interest rates at higher levels for longer, stocks declined on Thursday, compounding losses for the week.

In a 0.6% decrease, the Dow Jones Industrial Average lost 205 points. The Nasdaq Composite fell 1.5%, and the S&P 500 fell 1.0%.

The Nasdaq was expected to decline by around 3%, while the Dow and S&P 500 were expected to close the week down by 1% and 2%, respectively. The major averages were also on track to lose money for the third day in a row.

Source (CNBC)

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