Dow Jones ends winning streak amid rise in bond yields
US stock indices came under pressure with a rise in bond yields, with markets evaluating economic data that added to the concerns about inflationary pressures, which may represent an obstacle in the path of interest rate cuts this year.
At the close of trading on Wednesday, the Dow Jones Industrial Average fell by 0.1%, or 42 points, to 38,460 points, ending a series of gains that extended over three consecutive sessions.
The value of the S&P 500 index stabilized at 5,071 points, while the Nasdaq index rose by 0.1%, or 16 points, to 15,712 points.
Following the announcement of business results for the first three months of 2024, Boeing shares fell by 2.85%, while AT&T shares rose by 1.9%.
Regarding European markets, the STOXX Europe 600 index fell by 0.45% to 505.6 points, after the European index exceeded 509 points, with losses in the banking, energy, utilities and automobile sectors.
On the other hand, the British FTSE 100 index stabilized at 8,040 points and the French CAC 40 index fell by 0.15% to 8,091 points. The German DAX retreated by 0.25% to 18,088 points.
In Japan, the value of the Nikkei index climbed 2.4% to or 907 points to 38,460 points, and the broader Topix index grew by 1.65% to 2,710 points.
In the oil market, futures contracts for standard Brent crude for June delivery dropped by 0.45%, equivalent to 40 cents, at $88.02 per barrel, after touching $88.86.