new York 14-year high in US Treasury yields is putting renewed pressure on Wall Street after a two-day rally. At the same time, the balance sheet season with a mixture of positive and negative surprises is causing additional nervousness on the US stock exchanges. The Dow Jones index of standard values closed 0.3 percent lower on Wednesday at 30,423 points. The tech-heavy Nasdaq fell 0.9 percent to 10,680 points. The broad S&P 500 lost 0.7 percent to 3695 points.
“The market is taking a breather,” said Peter Tuz of wealth manager Chase Investment Counsel. It is a combination of a post-rally pause and concerns about inflation and cautious outlook from some companies.
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