How major US stock indexes fared Thursday, 10/12/2023
U.S. stocks slipped as the clamps tightened on Wall Street from rising yields in the bond market
U.S. stocks slipped as the clamps tightened on Wall Street from rising yields in the bond market.
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The S&P 500 fell 0.6% Thursday, breaking a four-day winning streak. The Dow lost 173 points, and the Nasdaq composite gave back 0.6%.
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A weak auction for long-term Treasury bonds drove yields up across the bond market. Yields had already been climbing following a report showing inflation was a touch higher last month than expected. Higher yields can knock down stock prices, all else equal.
Oil prices eased after zigzagging through the day.
On Thursday:
The S&P 500 fell 27.34 points, or 0.6%, to 4,349.61.
The Dow Jones Industrial Average fell 173.73 points, or 0.5%, to 33,631.14.
The Nasdaq composite fell 85.46 points, or 0.6%, to 13,574.22.
The Russell 2000 index of smaller companies fell 39.04 points, or 2.2% to 1,734.25.
For the week:
The S&P 500 is up 41.11 points, or 1%.
The Dow is up 223.56 points, or 0.7%.
The Nasdaq is up 142.88 points, or 1.1%
The Russell 2000 is down 11.30 points, or 0.6%.
For the year:
The S&P 500 is up 510.11 points, or 13.3%.
The Dow is up 483.89 points, or 1.5%.
The Nasdaq is up 3,107.74 points, or 29.7%
The Russell 2000 is down 26.99 points, or 1.5%.