New York [US], September 24: US stocks closed lower on Wednesday, weighed down by declines in Alphabet and Amazon shares as US Treasury yields rose.
According to the latest figures available at the time of publication, the S&P 500 fell 0.75% to 7,706.05, the Nasdaq Composite dropped 1.13% to 26,936.04, and the Dow Jones Industrial Average declined 0.68% to 51,511.59.
The market came under pressure after data indicated that US business activity strengthened sharply in September. The figures drove Treasury yields higher and reinforced expectations that the Federal Reserve could raise interest rates again, with the two-year yield reaching its highest level since 2024 and the 10-year yield climbing to its highest since 2007.
Source: Emirates News Agency
