Nasdaq Composite books 4th straight loss as stock-market rebound fades in final hour of Wednesday trade

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U.S. stock-market benchmarks closed slightly higher but well off the best levels of Wednesday’s trade as Wall Street attempted to recover some of the losses from Tuesday’s yield-fueled rout. The Dow Jones Industrial Average closed up by about 90 points, or 0.3%, to 34,391, on a preliminary basis; the S&P 500 index advanced 0.2% to around 4,359, while the Nasdaq Composite Index declined 0.2% at 14,512 to mark the fourth straight decline. Renewed concerns about too-hot inflation, which could force the Federal Reserve to ramp up interest-rate hikes, is causing friction in equity markets. The 10-year Treasury note yields [ss: BX:TMUBMUSD10Y] 1.540%, up from 1.534% on Tuesday. A number of other concerns, including those centered on the debt limit and the worries about weakening economic output, are also buffeting bulls.

-Mark Decambre

 

(END) Dow Jones Newswires

09-29-21 1611ET

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