Dow falls 300 points as stocks open sharply lower to resume selloff after Wednesday bounce
Stocks opened lower on Thursday, giving back a chunk of the previous session's bounce, as Treasurys saw a resumed selloff that pushed yields back up. Stocks rose sharply Wednesday, ending a six-day losing streak that had sent the Dow Jones Industrial Average and S&P 500 to their lowest closes since November 2020. The bounce came as global bond yields fell after the Bank of England moved to buy U.K. government bonds to arrest a market meltdown. Yields were back on the rise Thursday, with the 2-year Treasury rate up 9 basis points at 4.19%. The Dow was down 300 points, or 1%, at 29,383, while the S&P 500 dropped 1.4% to 3,669 and the Nasdaq Composite shed 1.8% to trade at 10,848.
-William Watts
(END) Dow Jones Newswires
September 29, 2022 09:36 ET (13:36 GMT)
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