3/27, 9:00 PM (Source: TeleTrader)
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US shares end lower parallel to drop in yields

Traders favored benchmark government debt securities on Wednesday, knocking down yields together with stocks on Wall Street. Precious metals also dipped on fears of no upside to inflation. Losses in equities were capped by a month-on-month decline in the trade deficit of the United States to $51.1 billion in January. Risk aversion continued to be underpinned by the global economic slowdown and the Brexit unknowns, but with trade friction looming in the background as well.

The Dow Jones Industrial Average closed 0.13% in the red, off the session low, with Walmart falling 1.13% to the bottom of the list. The Nasdaq 100 was 0.58% lower, led by a decline of 3.61% in Western Digital amid a general selloff affecting chipmakers. The S&P 500 lost 0.46%. Centene was the worst component, bleeding 4.98%.

Gold fell 0.45% to $1,309.64 per ounce. Palladium was 6.65% in the hole at $1,440.8 for one troy ounce. The session low of $1,440.63 was unseen since February 18. The euro slipped 0.14% to $1.125 and the pound advanced 0.31% to $1.325, while the dollar declined only 0.1% to ¥110.523. The 30-year Treasury bond yield fell to the lowest level since early January of last year, while the 10-year benchmark partly reversed a dip to 2017 lows.

Breaking the News / IT