Nasdaq Drops 0.12% as Iran Conflict Lifts Oil and Treasury Yields
IXIC sits 27% above its 52-week low of $20,690.249.
Summary
U.S. stocks fell Monday as renewed U.S.-Iran hostilities near the Strait of Hormuz pushed oil prices up 2.8% to $85.76 a barrel and lifted long-term Treasury yields. The Nasdaq Composite declined 31.53 points, or 0.12%, to 26,370.89, while the Dow lost 374.09 points and the S&P 500 slipped 0.33%. The 10-year Treasury yield rose to 4.757% and the 30-year to 5.248%, signaling higher borrowing costs ahead. Goldman Sachs CEO David Solomon called the surge in long-term rates 'worth watching' but not yet urgent. Bonds were shaken and stirred.
At the time of this announcement, IXIC was trading at $26,370.89 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.