US Stocks, Crude Oil Prices Fall As Markets Extend Slump
More than 85% of stocks in the benchmark index fell in the weak opening following a long weekend for the Independence Day holiday. The Dow Jones Industrial Average fell 562 points, or 1.8%, to 30,532 and the Nasdaq fell 0.3%.
The big apple: shares fell broadly in afternoon buying and selling on wall street tuesday, extending a stoop for the primary indexes as traders continue to fear approximately the state of the economy. The s&p 500 fell 1. Five% as of 12:01 p. M. Jap. Extra than 85% of stocks within the benchmark index fell inside the vulnerable opening following an extended weekend for the independence day vacation. The dow jones commercial average fell 562 points, or 1. Eight%, to 30,532 and the nasdaq fell zero. 3%.
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Small-company stocks also fell. The Russell 2000 shed 1.2%
Energy companies had some of the biggest losses as U.S. oil prices fell 8.1%. Exxon Mobil shed 4%. Banks also fell significantly, along with bond yields. The yield on the 10-year Treasury, which helps set mortgage rates, fell to 2.79% from 2.90% late Friday. JPMorgan Chase fell 2.3%.
European markets were also lower
Shares remain in a slump that pulled the s&p 500 into a undergo market closing month, meaning an extended decline of 20% or greater from a latest height. The market’s overall performance inside the first 1/2 of 2022 became the worst for the reason that first six months of 1970. Additionally study – 7th pay commission contemporary news: da hike for valuable authorities employees quickly? Test information right here
inflation has been squeezing corporations and customers during the 12 months but tightened its grip after russia invaded ukraine in february. The invasion sent oil expenses better globally and sent fuel charges inside the u. S. To report highs. That induced a pullback in spending from purchasers suffering with better expenses on the whole thing from food to garb.