From Kiplinger · · 50s
Stocks Drop as Rate Hikes Press
Interest rate fears sink markets despite strong Q4 season.
In brief
Interest rate fears sink markets despite strong Q4 season. Stocks fell as bond yields rose and oil prices dropped, but growth stocks remain resilient. Originally reported by Kiplinger.
Stocks Fall
Main equity indexes dropped Tuesday as oil prices fell but bond yields rose.
Key Indices Down
Nasdaq fell 0.09%, S&P 500 dropped 0.8%, Dow Jones dropped 0.7%.
Oil Prices Drop
West Texas Intermediate crude fell 3.7% to $89.21 per barrel.
Bond Yields Rise
30-year Treasury yield rose 2.5 basis points to 5.587%.
Consumer Confidence Falls
Consumer confidence index dropped to 81.9, lowest since April 2014.
Barclays Economist Notes
Barclays economist says inflation and gas prices hurt stock market.
“Concerns about sustained inflation, high gas prices, and job scarcity likely contributed to the overall decline”
Growth Stocks Hold
Growth stocks beat value stocks for 12 straight years despite rate hikes.
The one thing
Stocks fell as bond yields rose and oil prices dropped, but growth stocks remain resilient.
