9/27, 7:21 PM (Source: TeleTrader)
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Dow slumps over 250 pts as bond yields rise

Stock exchanges on Wall Street reversed course from the opening bell on Wednesday, with all three major indexes plunging below the flatline as yields on the United States Treasury notes continued to climb in the aftermath of the Federal Reserve meeting and its dot plot.

The negative sentiment appeared to grow as the deadline for reaching a consensus on the government spending neared, with the House of Representatives set to vote on a short-term bill on September 29.

The Dow Jones declined 0.74% or 250 points at 1:22 pm ET. The Nasdaq 100 lost 0.49% and the S&P 500 fell 0.61%. The euro was down by 0.75% against the dollar, selling at 1.04936 and reaching its lowest point versus the US currency since January 2023.

Baha Breaking News (BBN) / AB