U.S. stocks end lower, S&P 500 logs third straight day of losses after Fed Chair Powell remarks

Christine Idzelis is a markets reporter at MarketWatch and is based in New York.

U.S. stocks closed lower on Thursday as Treasury yields climbed, as investors digested remarks from Federal Reserve Chair Jerome Powell that more interest-rate hikes may be needed. The Dow Jones Industrial Average DJIA, -0.75% finished down around 0.8%, while the S&P 500 SPX, -0.85% fell 0.9% and the Nasdaq Composite COMP, -0.96% dropped 1%, according to preliminary data from FactSet.

Powell said Thursday the Fed is “attentive” to recent economic data showing resilient U.S. economic growth and demand for labor, a trend that could lead to more rate hikes if it continues. The S&P 500 and Nasdaq each booked a third straight day of declines, FactSet data show. In the bond market, the yield on the 10-year Treasury note rose 8.5 basis points to 4.987%, the highest since July 20, 2007 based on 3 p.m. Eastern Time levels, according to Dow Jones Market Data.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MarketWatch /  🏆 3. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock futures tick higher as traders look ahead to key Fed Chair Powell speech: Live updatesNetflix shares popped in after-hours trading Wednesday evening.
Read more »

Stock futures tick higher as traders look ahead to key Fed Chair Powell speech: Live updatesNetflix shares popped in after-hours trading Wednesday evening.
Read more »

Fed Chair Powell to deliver key speech Thursday: Here's what to expectFederal Reserve Chair Jerome Powell is set to deliver what could be a key policy address Thursday.
Read more »

Fed Chair Powell to deliver key speech Thursday: Here's what to expectFederal Reserve Chair Jerome Powell is set to deliver what could be a key policy address Thursday.
Read more »

10-year Treasury extends multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »

10-year Treasury extends multiyear high ahead of Fed Chair Powell speechU.S. Treasury yields rose on Thursday, with the 10-year Treasury extending its latest multiyear high as investors awaited remarks from Fed Chair Jerome Powell.
Read more »