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Stock Market News: Nasdaq Has Worst Day in Weeks
All three major indexes were lower ahead of congressional testimony from Fed Chair Powell. Treasury yields fell.
Last Updated:
March 5, 2024 at 7:47 PM EST
Updated 2 months ago
Dow Slides 400 Points in Afternoon Trading
The Dow Jones Industrial Average was down more than 400 points as the market’s pullback intensified.
The Dow was down 418 points, or 1.1% in recent trading. The S&P 500 was down 1.2%. The Nasdaq Composite was down 1.9%.
The 10-year Treasury yield was down to 4.138%.
After touching record levels last week, the big three indexes were falling to start the week.
Recent economic data has been soft, and there are jitters ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress on Wednesday and Thursday. There is also a key jobs report on Friday.
All of the "Magnificent Seven" megacap technology stocks were falling. The CBOE Volatility index, or Vix, was up 7.1% to 14.45.