10/19/2022, 10:00 PM (Source: TeleTrader)
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Wall Street down at close as US bond yields rise

United States stock markets were lower to close the trading session on Wednesday after the yield on the benchmark 10-year US Treasury note hit the highest point since 2008. Meanwhile, the third trimester earnings season is set to continue with Tesla and IBM reporting quarterly figures soon after the close. Elsewhere, the Federal Reserve reported that several of its districts reported that price growth has eased, while a senior Fed official estimated rate hikes would be halted at some point in 2023.

The Dow Jones Industrial Average index closed with a 0.33% or a 100-point loss as The Home Depot fell by 3.36%. The Nasdaq 100 decreased 0.40% at the close, pulled down by Baidu's 8.82% drop. The S&P 500 was down 0.66% at the end of trading with Generac Holdings, its worst performer, down 25.34%.

The euro was 0.85% lower compared to the dollar, going for 0.97713 at 3:59 pm ET.

Baha Breaking News (BBN) / MS