Dow Drops Nearly 700 Points on Treasury Yield, Retail Earnings

Retail earnings disappointed as well

Deputy Editor
Feb 21, 2023 at 4:27 PM
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The Dow shed nearly 700 points today, logging its worst daily performance since Dec. 15, as rising rates and disappointing retail earnings weighed on the broader market. The 10-year Treasury yield and 2-year rate both hit levels not seen since November, as investors continue to contend with red-hot inflation readings. In response, the Nasdaq logged a third consecutive daily loss and worst session since mid-December. The S&P 500 finished solidly lower as well. 

Continue reading for more on today's market, including:

closing summary Feb21

nyse nasdaq Feb21

5 Things to Know Today 

  1. Following a surprise visit to Ukraine, U.S. President Joe Biden said Russia will "never" win. (CNBC)
  2. Stocks to watch as Tesla (TSLA) looks to enter the lithium mining game. (MarketWatch
  3. Is bullish exposure being reduced?
  4. Why Generac stock moved lower today.
  5. Medical device stock's worst session ever.

Earnings Feb21

UVOL Feb21

Oil, Gold Prices Fall on Rising Treasury Yields, U.S. Dollar

Oil prices extended last week's losses, with March-dated crude futures shedding 18 cents, or 0.2%, to settle at $76.16 per barrel Tuesday. Rising Treasury yields and U.S. dollar pressured black gold today. 

Gold futures also fell for the session, cutting into their year-to-date lead. Specifically, April-dated gold fell $7.70, or 0.4%, to settle at $1,842.50 per ounce today.

 

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