Stocks
Dow Tumbles as Oil Hits $100, Bond Yields Surge Amid Fed Rate Hike Bets
The US stock market saw mixed performance on October 1, as investors weighed weakening signs from inflation against increased yields on Treasuries, oil prices, and new jobs numbers.
The Dow Jones Industrial Average fell by 200.09 points, or 0.39%, to stand at 50,705.96, while the Nasdaq was trading slightly higher by 12.04 points, or 0.04%, to reach 26,873.10.
Meanwhile, Brent crude oil prices rose above $100 per barrel, reviving concerns about future inflation.
The 10-year Treasury note yield reached 5.32%, putting pressure on equity yields and contributing to the Dow's decline.
Some of the biggest stocks contributing to this fall include Home Depot, Sherwin-Williams, Disney, and Goldman Sachs.