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Dow, S&P 500 end lower, but Nasdaq books a gain as long-end yields continue to climb
MarketWatch • • business
Key Points:
- Two of the three major U.S. stock indexes closed lower on Wednesday, with the Nasdaq Composite being the only index to finish both the session and September higher.
- The Dow Jones Industrial Average dropped 443.87 points, or 0.9%, ending at 50,906.05, hitting the session's low.
- The S&P 500 declined by 19.30 points, or 0.3%, closing at 7,651.54.
- The Nasdaq Composite gained 63.52 points, or 0.2%, finishing at 26,861.06 despite rising Treasury yields.
- Rising Treasury yields to 2002 levels have increased borrowing costs for companies, households, and the government but have not significantly affected demand for leading tech stocks.
