US Stocks Drop Amid Inflation Worries; Yields Advance
12:17 PM EDT, 05/11/2021 (MT Newswires) -- US stocks declined ahead of the inflation report Wednesday that's forecast to show prices hit a decade high in April, pushing up government bond yields as well as the so-called fear index VIX.
The Dow Jones Industrial Average declined by 1.3% to 34,288.02, with the S&P 500 down by 1% and the Nasdaq Composite lower by 0.5%. Energy and industrials were among the steepest decliners, with all sectors in the red after midday on Tuesday.
The US 10-year yield climbed by 2 basis points to more than 1.62%.
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