“Stock market…Stocks slide as oil, yields touch 2024 highs”
April 3, 2024
“…The Dow Jones Industrial Average (^DJI) closed down about 1%, or nearly 400 points, setting the blue-chip index back from a bid to reach the key 40,000 level. The S&P 500 (^GSPC) shed about 0.7%, while the tech-heavy Nasdaq Composite (^IXIC) also slid nearly 1%.
US bonds continued to struggle, as the yield on the benchmark 10-year Treasury (^TNX) rose to around 4.36%, hovering at its highest levels of 2024. Oil also jumped with crude prices (CL=F) rising to trade above $85 a barrel…
A pullback in health insurer stocks came after US regulators surprised the industry by failing to boost payments for private Medicare plans as usual. Humana (HUM) shares fell more than 13%, while CVS (CVS) shed roughly 7%…”