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U.S. stocks fell on Wednesday amid further gains in Treasury yields and concern over the timing and scale of possible interest rate cuts from the Federal Reserve. The Dow fell to its...
Palantir has emerged as a favorite among AI investors, but shares recently cratered following the company's first-quarter earnings report.
U.S. stocks dropped on Wednesday due to rising Treasury yields and uncertainties about future interest rate cuts by the Federal Reserve. The Dow fell over 1%, reaching a near one-month low, while S&P 500 sectors also declined. Market sentiment was dampened by conflicting rate cut expectations and modest inflation growth.
The main indexes pulled back Wednesday with health insurer UnitedHealth creating the biggest drag on the blue chip Dow.
A global equities gauge fell as U.S. Treasury yields rose following three weak government debt auctions, stoking investor concerns about higher interest rates ahead of a crucial U.S. inflation report. The dollar index climbed, and major financial indexes closed lower due to worries about persistently high inflation and elevated interest rates.