The Dow dropped more than 100 points on the day, on its last trading day in February.
As of 9:35 p.m. Thai time, the Dow Jones Industrial Average was 32,767.64 points, down 121.45 points or 0.37%.
Shares of US retail giant Target Corp soared more than 2% after it posted higher-than-expected earnings for the fourth quarter of 2022.
Wall Street stocks are likely to fall this month. The Dow is now down 3.5% since early February. The S&P 500 and Nasdaq fell 2.3% and 1%, respectively, amid concerns that The Federal Reserve (Fed) will raise interest rates longer than expected to curb inflation.
Market trading today was pressured by a rebound in US Treasury yields. The increase in the yield of the 10-year US government bond, which is the US government bond used as a reference in determining the price of bonds around the world. This includes the US mortgage interest rate. will allow consumers to have less money for spending And companies will face higher costs from debt repayment. causing these companies to reduce investment and reduce dividend payments to investors.
Investors are eager for retail earnings releases this week. To keep an eye on the impact of the Fed’s interest rate hike on consumer spending. Including the release of the Purchasing Managers Index (PMI) in both the manufacturing and service sectors of the United States. Before the release of non-farm payrolls next week.
