Dow opens 300 points lower as rising yields spark recession fears
Stock fell Thursday as interest rates jumped with Federal Reserve officials signaling interest rate hikes to slow inflation are far from over.
The 2-year Treasury Yield jumped to 4.437% Thursday morning, raising fears higher rates would send the economy into a recession. The latest moves followed a down day on Wall Street, the second in three days. The S&P 500 and Nasdaq Composite fell 0.83% and 1.54%, respectively. The Dow Jones Industrial Average lost 39.09 points, or 0.12%.Target, which reported a decline in sales as inflation pinches shoppers heading into the holiday season. The Minneapolis-based chain ended 13% lower, while its forward guidance cast doubt on other retailers.The Dow Jones Industrial Average opened more than 300 points lower on Thursday.
Initial jobless claims was 222,000 for the week ending Nov. 12, a drop of 4,000 from the prior week's adjusted 226,000 claims.
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