U.S. stock benchmarks retreated again Thursday as Wall Street tangled with further volatility, with concerns about rising inflation and bond yields weighing on investor’s psyche against the backdrop of a relatively healthy domestic economy.
Strategists and traders have mostly pinned the recent selling in part to rising bond yields amid signs of inflation. But they have also noted that equities were due for a pullback after scoring big gains in January and throughout 2017.
The Dow Jones Industrial Average fell 539 points, or 2.2%, to 24,354. The S&P 500 index dropped 47 points, or 1.7%, to 2,634, weighed by financial and industrials stocks. The Nasdaq Composite Index shed nearly 130 points, or 1.8%, to 6,924.
Source : Marketwatch