New York's three major stock indices fall for the fourth consecutive day amid soaring international oil prices and surging government bond yields

[Financial News] The New York stock market fell for the fourth consecutive day, weighed down by negative factors such as soaring international oil prices, skyrocketing government bond yields, and inflation concerns.
On the 10th (local time), the three major New York stock indices all showed weakness as they faced negative factors such as soaring international oil prices and a surge in U.S. Treasury yields. This was due to significantly dampened investor sentiment as concerns over a resurgence of inflation spread throughout the market.
On the 10th (local time), the Dow Jones Industrial Average (DJIA) closed at 52,064.10 on the New York Stock Exchange (NYSE), down 316.5 points (0.60%) from the previous trading day.
The Standard & Poor's 500 Index (S&P 500 Index), centered on large-cap stocks, fell 44.66 points (0.58%) from the previous session to 7,591.70, while the NASDAQ Composite Index, centered on technology stocks, also dropped 171.62 points (0.65%) to close at 26,081.72. As a result, all three major indices have continued their downward trend for four consecutive trading days.
The market was held back on this day by the continuous rise in international oil prices and the resulting volatility in U.S. Treasury yields. As concerns grew that rising energy prices would reignite inflation, expectations for a Federal Reserve System (the Fed) interest rate cut receded, leading to higher market interest rates and a sell-off in the stock market.
Stock market experts pointed out that "unless inflationary pressures stemming from rising oil prices ease, volatility across the entire stock market, including technology stocks, could persist for the time being."


[email protected] Yoon Jae-jun Reporter