Published on 30 May 2024 on Zacks via Yahoo Finance
Stock Market News for May 30, 2024
U.S. stock markets closed sharply lower on Wednesday following spikes on yields of U.S. government bonds. Moreover, market participants remained highly concerned regarding the time and magnitude of interest rate cut by the Fed. A few weak earnings results also dented investors’ confidence on risky assets like equities. All three major stock indexes ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) plummeted 1.1% or 411.32 points to close at 38,441.54. 27 components of the 30-stock index ended in negative territory, while three in positive zone. The tech-heavy Nasdaq Composite finished at 16,920.58, sliding 0.6% due to weak performance by U.S. technology behemoths.