Stocks end sharply lower as bond yields hit 2-year high, Goldman shares slump
Stocks ended sharply lower Tuesday, kicking off a holiday-shortened week on a down note as Treasury yields jumped to two-year highs. The Dow Jones Industrial Average fell around 542 points, or 1.5%, to close near 35,369, while the S&P 500 shed around 86 points, or 1.8%, ending near 4,577. The Nasdaq Composite declined around 387 points, or 2.6%, to finish near 14,507. The yield on the 10-year Treasury note jumped more than 9 basis points to 1.866%, its highest since January 2008. Shares of Goldman Sachs Group Inc. (GS) fell 7%, leading Dow decliners after the investment bank delivered results that missed Wall Street expectations on earnings.
-William Watts
(END) Dow Jones Newswires
January 18, 2022 16:03 ET (21:03 GMT)
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