26 May 2015
US stocks fall sharply after long weekend
FXStreet (Córdoba) - US stocks fell sharply on Tuesday after a long weekend in US, with three main Wall Street indexes losing more than 1% each, as upbeat data fueled expectations the Fed could raise rates sooner than later.
The Dow Jones Industrial Average lost 190.48 points, or 1.04% to 18.041. The S&P 500 fell 21.85 points, or 1.03% to 2.104. The Nasdaq Composite dropped 56.61 points, or 1.11% and ended at 5.032.
The dollar rallied across the board, and commodities slumped, as Friday’s US CPI data, today’s durable goods orders and Fed Yellen hawkish comments lifted prospects the Fed will hike rates this year, after a patch of weak data had sparked skepticism.
The Dow Jones Industrial Average lost 190.48 points, or 1.04% to 18.041. The S&P 500 fell 21.85 points, or 1.03% to 2.104. The Nasdaq Composite dropped 56.61 points, or 1.11% and ended at 5.032.
The dollar rallied across the board, and commodities slumped, as Friday’s US CPI data, today’s durable goods orders and Fed Yellen hawkish comments lifted prospects the Fed will hike rates this year, after a patch of weak data had sparked skepticism.