(Reuters) – The New York Stock Exchange ended sharply lower on Wednesday, with the S&P 500 and Nasdaq falling more than 1% each, while Treasury yields rose again.
Investors are also worried about the tightening of the situation in the Middle East, while numerous interventions by monetary policy makers at the Federal Reserve encourage caution.
The Dow Jones index fell 0.98%, or 332.57 points, to 33,665.08 points. The broader Standard & Poor’s 500 lost 58.60 points, or -1.34% to 4,314.60 points. The Nasdaq Composite fell 219.44 points (-1.62%) to 13,314.302.
Treasury yields rose slightly after data showed an increase in U.S. home construction, supporting expectations that the Fed would keep interest rates higher for longer.
Investors were also concerned about the repercussions of the conflict between Hamas and Israel which began on October 7 when President Joe Biden called for solidarity with the Israeli people during a stay in the Jewish state.
After the decline closed, Tesla shares rose 3% and Netflix shares climbed 12% after releasing their latest quarterly results.
(Written by Zhifan Liu)
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