Developing history
Dow sales are intensifying
SymbolPriceChange% ChangeI: DJI $ 30.575.41-817.38-2.60% BA $ 127.00-6.73-5.03% DOW $ 58.67-3.19-5.16% IBM $ 136.19-1.77-1.28% KO- $ 6,394
All but two of the Dow components traded in the middle of the morning, led by Boeing and Dow Chemical. IBM and Coca-Cola changed little.
Developing history
Dow drops more than 500 points, S&P hits bearish market for fears of recession
SymbolPriceChange% ChangeI: DJI $ 30,878.09-514.70-1.64% SP500 $ 3,816.21-84.65-2.17% I: COMP $ 11,048.70-291.32-2.57%
US stocks fell early on Monday with the S&P 500 in a new bearish market, down 20% from January high, as investors struggled with growing fears of recession and as bond yields increase. The 10-year Treasury yield reached 3.27%, the highest since May 2011. In commodities, oil stood at $ 119 and gas prices at $ 5.01 per AAA.
The Federal Reserve will begin its two-day meeting Tuesday with a decision Wednesday.
Developing history
S&P is approaching a new bear market
The S&P 500, the broadest measure of equities, is close to a new bear market with the benchmark below 18.7% from its high on January 3, 2022.
Dow Jones stockings.
$
31392.79
CLOCK LEVEL: 3,837,249
Developing history
Actions are set for a difficult start to the week
Dow Jones stockings.
$
31392.79
Dow Jones Industrial Average futures fell about 500 points on Monday ahead of what could be a volatile week for equities with Wednesday’s June Federal Reserve meeting.
Developing history
Bitcoin continues to be abused
Bitcoin, the world’s largest cryptocurrency by market value, continues to fall in conjunction with US equities.
Futures at a glance
U.S. equities futures plummeted on Monday amid fears of a rise in Federal Reserve interest rates later this week.
Dow Jones Industrial Average futures fell 551 points, or 1.79%, while Nasdaq futures fell 2.81%. The S&P 500 is down 2.23% in pre-market trading and is a pace to enter a bearish market.
Oil prices also fell on Monday. West Texas Intermediate crude futures traded at $ 119 a barrel, while Brent crude futures traded at about $ 120.50 a barrel.
Republican House MP DesJarlais to introduce new bill to block relief of Biden student loans
Tennessee Republican Rep. Scott DesJarlais will introduce a bill aimed at blocking President Biden’s student loan forgiveness plan.
“There are a lot of people who took out loans and, you know, maybe they didn’t get the job of their dreams, but they didn’t get them back,” DesJarlais told FOX Business. “So somehow deciding that they no longer need to have skin in the game, in my opinion, that discourages people from being successful.”
The most aggressive provision of the bill aims to limit the secretaries of education and finance, as well as the attorney general, from taking any action to forgive the debt of student loans, except those made as part of the law. 1965 higher education.
“It can help those people who are irresponsible, but those who are out there working and paying taxes, will now be burdened with the burden of, if you want to name the mistakes of these other people or borrowing money management.” argued DesJarlais.
For more information on the story, click here: Republican House MP DesJarlais to introduce new bill to block relief from Biden student loans
The Federal Reserve is expected to announce a further rise in interest rates
The Federal Reserve is expected to announce another rise in interest rates this week as it seeks to control scorching inflation.
All eyes will be on the Federal Reserve this week, as its two-day interest rate policy meeting will begin on Tuesday.
On Wednesday, the Federal Reserve will announce its decision on interest rates.
US stocks closed Friday after consumer inflation rose 8.6% to a 40-year high and consumer sentiment plunged to an all-time low, according to University of Michigan monitoring. The Dow Jones Industrial Average fell 880 points or 2.7%, while the S&P lost 2.9% and the Nasdaq Composite 3.5%. During the week, the top three averages fell between 4.6% and 5.6%.