Wall Street ends down as yields rise; indexes post weekly losses

(For a Reuters live blog on U.S., UK and European stock markets, click

or type LIVE/ in a news window)

* Investors await Jackson Hole conference next week

* 10-year U.S. Treasury yield nears 3%

* Indexes: Dow down 0.9%, S&P 500 down 1.3%, Nasdaq down 2% (Updates close with volume, prices, other details)

By Caroline Valetkevitch

NEW YORK, Aug 19 (Reuters) - U.S. stocks fell on Friday in a broad selloff led by megacaps as U.S. bond yields rose, with the S&P 500 posting losses for the week after four straight weeks of gains.

Amazon.com AMZN.O , Apple AAPL.O and Microsoft MSFT.O all fell and were the biggest drags on the S&P 500 and Nasdaq. Higher rates tend to be a negative for tech and growth stocks, whose valuations rely more heavily on future cash flows.

U.S. Treasury yields rose, with the benchmark 10-year note US10YT=RR nearly hitting 3%, after Germany reported record-high increases in monthly producer prices.

Investors have been weighing how aggressive the Federal Reserve may need to be as it raises interest rates to battle inflation.

Richmond Federal Reserve President Thomas Barkin said on Friday that U.S. central bank officials have "a lot of time still" before they need to decide how large an interest rate increase to approve at their Sept. 20-21 policy meeting.

"The rise in rates around the globe and tough talk from central bankers are being used as an excuse to push stocks lower in very light volume on an August Friday session," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

The Dow Jones Industrial Average .DJI fell 292.3 points, or 0.86%, to 33,706.74, the S&P 500 .SPX lost 55.26 points, or 1.29%, to 4,228.48 and the Nasdaq Composite .IXIC dropped 260.13 points, or 2.01%, to 12,705.22.

All three major indexes registered losses for the week. The S&P 500 fell about 1.2% and the Nasdaq slid 2.6% in their first weekly declines after four weeks of gains. The Dow lost about 0.2% for the week.

After notching its worst first half since 1970, the S&P 500 has bounced some 16% from its mid-June low, fueled by stronger-than-expected corporate earnings and hopes the economy can avoid a recession even as the Fed hikes rates.

Friday's monthly options expiration should also make way for greater near-term stock market moves as options positions expire, said Brent Kochuba, founder of options-focused financial insights company SpotGamma.

The U.S. central bank needs to keep raising borrowing costs to tame decades-high inflation, a string of U.S. central bank officials said on Thursday, even as they debated how fast and how high to lift them.

The Fed has raised its benchmark overnight interest rate by 225 basis points since March to fight inflation at a four decade-high.

Focus next week may be on Fed Chair Jerome Powell's speech on the economic outlook at the annual global central bankers' conference in Jackson Hole, Wyoming.

Meme stock Bed Bath & Beyond Inc BBBY.O plunged 40.5% as billionaire investor Ryan Cohen exited the struggling home goods retailer by selling his stake.

The S&P banking index .SPXBK fell 2.1% after recent gains.

Shares of Deere & Co DE.N ended slightly higher, even after it lowered its full-year profit outlook and said it has sold out of large tractors as it grapples with parts shortages and high costs.

Volume on U.S. exchanges was last at 10.01 billion shares in one of the lowest volume days of the year.

Declining issues outnumbered advancing ones on the NYSE by a 6.06-to-1 ratio; on Nasdaq, a 3.59-to-1 ratio favored decliners.

The S&P 500 posted 1 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 43 new highs and 93 new lows.
Reporting by Caroline Valetkevitch, additional reporting by Saqib Iqbal Ahmed in New York, Editing by Shounak Dasgupta, Arun Koyyur and Deepa Babington

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。