“Dow falls 400 points as higher rates pressure stocks…”
February 21, 2023
“…The Dow Jones Industrial Average dropped 457 points, or 1.35%. The S&P 500 slid 1.3%, and the Nasdaq Composite
pulled back by 1.7%. The Dow briefly fell by 500 points before reversing some of its losses.
shares fell 5.3% after the home improvement retailer posted weaker-than-expected revenue for the fourth quarter. The company also issued a muted outlook.
The benchmark 10-year Treasury yield climbed to 3.9%, while the 2-year rate advanced to 4.7%. Those moves build on last week’s gains for yields, which rose as traders grappled with hotter-than-expected inflation data. Traders are worried that stubborn inflation will lead the Federal Reserve to keep rates higher for longer — which could tip the economy into a recession…”
https://www.cnbc.com/2023/02/20/stock-market-today-live-updates.html