Stocks are down again today as the market continues a recent downward trend amid concerns about a strong economy.
These worries were brought about by statements made by Federal Reserve Chair Jerome Powell. The Fed Chair’s comments suggest that the central bank may have to continue with interest rate increases in an effort to curb inflation.
That’s not the news investors wanted to hear as interest rates have been weighing down on markets for months now. With the fear of even more interest rate increases on the way, it makes sense that stocks would be down today.
Adding to that are increasing treasury yield rates. When these rates increase, it offers investors a better investment than the stock market. That has been a problem for the market in the past.
David Donabedian, Chief Investment Officer of CIBC Private Wealth Management, said the following about the market in a statement to CNBC:
“The stock market is watching the bond market and doesn’t like what it sees […] Yields are rising, even with the relatively good news about inflation. This is the primary reason the stock market has been weak.”
Let’s check on how this news is affecting the major stock indices today below!
Stocks Down Today: Stock Indices Falling on Friday
- Starting us off today is the S&P 500, which is down almost 1% as of Friday morning.
- Next on our list is the Dow Jones Industrial Average with a 0.51% drop as of this writing.
- Finally, the Nasdaq Composite closes out our coverage of the major stock indices with a 1.4% fall this morning.
Investors looking for even more of the most recent stock market stories worth reading about today are in luck!
We’re covering all of the hottest stock market news that traders need to know about on Friday! Among that is what’s happening with shares of Mattel (NASDAQ:MAT), VinFast (NASDAQ:VFS) and AMC Entertainment (NYSE:AMC) stock today. You can catch up on all of this news at the following links!
More Friday Stock Market News
- Mattel Price Predictions: Can MAT Stock Gain 25% From Here?
- VFS Stock Alert: VinFast Announces $1 Billion Share Deal With Yorkville
- Dear AMC Stock Fans, Mark Your Calendars for Nov. 8
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.