US Market Indexes Close Lower on Tuesday

Wall St. drops as Treasury yields surge

The Dow Jones industrial average climbed 68.24 points, or 0.3 percent, to 24,899.41.

The Russell 2000 lost 6 points, or 0.4 percent, to 1,600.

The really ominous news? Mortgage rates, which have been rising this year, tend to track the movement in the 10-year Treasury yield.

The market slide comes in the midst of a strong May for stocks. Yet we have to ask: If the Federal Reserve's policy of quantitative easing was good for stocks, shouldn't the reverse policy-aka "quantitative tightening"-be bad for them?"

"In general terms, we have a trade skirmish not a trade war", said Anthony Chan, Chase Chief Economist JP Morgan in NY. New data Tuesday morning showed strong retail sales and homebuilder confidence. Startling fact: In the late 19th century, Argentina was one of the richest countries in the world. Some Fed-watchers have been cautioning that any lasting uptick in inflation or economic growth might spur the Fed to pursue an additional rate increase before year's end. Small-company stocks also rose.

ENERGY: Benchmark U.S. crude oil gave up 15 cents to $71.16 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price global oil, added shed 8 cents to $78.35 a barrel in London. The euro weakened to $1.1847 from $1.1944. Bed Bath & Beyond rose 2.4 percent to $17.48.

More news: Guardiola reveals who he thinks will challenge for EPL title next season

The biggest drags on the sector were Kinross Gold Corp., which fell 2.5 per cent, and Barrick Gold Corp., which dropped 1.9 per cent.

The greenback's gains weighed on precious metals prices. Copper slipped 4 cents, or 1.2 percent, to $3.06 a pound. Wholesale gasoline added a penny to $2.21 a gallon.

Major indexes in Europe finished mixed Tuesday. Ulta Beauty added 1.1 percent to $249.64.

JAPAN ECONOMY: Japan's economy contracted at an annualized rate of 0.6 percent in the January-March quarter, as private investment and public spending declined, according to Cabinet Office data released Wednesday. Australia's S&P/ASX 200 lost 0.6 percent.

NORTH KOREA: North Korea canceled a high-level meeting with South Korea, threatening to scrap a historic summit next month between President Donald Trump and North Korean leader Kim Jong Un over military exercises between Seoul and Washington that Pyongyang has long claimed are rehearsals for invasion. Hong Kong's Hang Seng fell 0.8%.

Related News:

  • Parents deny abuse allegations after 10 children removed from California home

    Parents deny abuse allegations after 10 children removed from California home

    Greg Hurlbut described the home as having human and animal feces and urine on the floor, as well as spoiled food and garbage. A California couple was arrested after police allegedly found their 10 children living in squalor at their Fairfield home.
    Cue the nostalgia: NES Classic to return to stores in June

    Cue the nostalgia: NES Classic to return to stores in June

    Following the release of theSNES Classic Nintendo promised to deliver more consoles in 2018 and bring back the NES Classic . Call it modesty or inaccuracy but Nintendo seems to have a problem properly estimating its chances of success.
    David Moyes will reportedly hold talks with West Ham board next week

    David Moyes will reportedly hold talks with West Ham board next week

    New contract for David Moyes? Luke Shaw had a strike turned onto the post in the first half in a game bereft of quality. However, that failed to provoke an immediate response as West Ham posed the early threat.
  • Malaysia: Opposition icon Anwar gets royal pardon, released from prison

    Malaysia: Opposition icon Anwar gets royal pardon, released from prison

    Without a deal to help recover the funds, Najib faces the likelihood of prosecution and possible criminal charges. Asked about other possible crimes, Mahathir said: "We can not do everything at the same time at one go".
    Gov. Brown orders flags to half-staff for Peace Officers Memorial Day

    Gov. Brown orders flags to half-staff for Peace Officers Memorial Day

    Drew County Sheriff's Deputy Timothy Braden gave his life while serving and protecting his community. Already this year we have seen 87 officers shot in the line of duty and 28 of them have been killed.
    Salma Hayek calls for male stars to take pay cuts for equality

    Salma Hayek calls for male stars to take pay cuts for equality

    In December, Hayek joined the list of more than 40 women who came forward with allegations of sexual harassment against Weinstein. At the Cannes film festival American actress appeared in a blue dress with a deep neckline accentuating her ample bosom.
  • Woman killed in explosion at California medical facility

    Woman killed in explosion at California medical facility

    Authorities say one person is dead and three others have injuries after an explosion rocked a Southern California office building. McWilliams stated she noticed two burned ladies staggering out of the constructing, lined in ash and soot.
    OnePlus 6 briefly listed on Amazon Germany starting from ~RM2449

    OnePlus 6 briefly listed on Amazon Germany starting from ~RM2449

    The device is one of the most anticipated smartphones of this year and was a subject of multiple leaks over the past few months. The listing also shows that it will be water-resistant, but doesn't specify whether it will have an IP67 or IP68 certification.
    Eurovision Song Contest 2018 results: Israel wins

    Eurovision Song Contest 2018 results: Israel wins

    That's not much time to get the props off stage, though the commercial breaks offer more breathing space for the crew. The 25-year-old won season five of the Israeli reality show HaKokhav HaBa, an X Factor-style singing competition.
  • Exciting OnePlus 6 launch offers

    Exciting OnePlus 6 launch offers

    We've been sifting through all of the wild speculation surrounding the OnePlus 6 for months here at Android Authority . Following the first unveiling, OnePlus will launch the smartphone in India on May 17.
    Asteroid the Size of City Block to Pass Earth Today

    Asteroid the Size of City Block to Pass Earth Today

    The 2010 sign means that it was initially detected in 2010, particularly on November 30, by the Catalina Sky Survey in Arizona. The space rock is larger than the estimated size of the Chelyabinsk meteor before the latter hit Earth's atmosphere in 2013.
    Saras anxious  about Iran crude amid new sanctions

    Saras anxious about Iran crude amid new sanctions

    The prospect of a drawdown in crude stocks should be supportive for prices along with the tight global supply situation. Also supportive to prices was the possibility of hard US sanctions against Iran's oil industry.


Most liked

Four killed in latest Indonesia 'terror' assault
They followed a deadly prison riot staged by Islamist prisoners at a high-security jail near Jakarta last week. Earlier, an internal police report said that one of the dead men had a suspected bomb strapped to his body.

US Identifies Suspect in Leak of CIA Hacking Tools
But Schulte has not faced charged in connection with the theft - though he was busted on unrelated kiddie porn charges. The software engineer, who denies the charges, is now being held in a Manhattan jail after violating his bail terms.

Muslims in Singapore to mark start of Ramadan on May 17
As mentioned in the holy book, Quran, Muslims, during this month, are supposed to donate alms to the poor and feed the hungry. The Eid al-Fitr celebration marks the end of the month when Muslims celebrate a successful month of fasting and worship.

South and North Korea to Hold Meeting for Peace on May 16
Concerning South Korean citizens detained in North Korea , the official said humanitarian matters will also be up for discussion. In March, Mr Trump stunned the world by accepting an invitation to meet Mr Kim.

Gap Apologises For Flogging Shirts With Map Of China Bereft Of Taiwan
Gap is not the first worldwide brand to bruise China's long fingers and tender toes, but it has apologized just the same. Specifically, Taiwan , " Southern Tibet ", and the South China Sea were omitted from the map.

Sen. Mark Warner to Support Gina Haspel for CIA Director. Grrrrrrrr
Bush. "I think what we did helped ultimately produce the intelligence we needed to be able to get (Osama) bin Laden", Cheney said. She had her testimony in front of the Senate Intelligence Committee last week, which was widely seen as a positive performance.

Indonesian family that bombed churches well off, friendly
Co-ordinated suicide bombings at three churches were carried out Sunday by a family of six that included girls aged eight and 12. Indonesia's latest wave of terrorist bombings, the worst since 2009, have killed at least 14 people.

Controversial pro-Trump pastor offers blessing at Jerusalem embassy opening
Big-name pastors also came to Jeffress' defense, including Greg Laurie of Harvest Christian Fellowship in California. The message was clear but Hagee said his position was misrepresented and "the ugliest of lies".

'EFAIL' Vulnerability Undermines PGP, S/MIME Email Encryption
The flaw, named EFAIL , reportedly affects both sent and received messages, including past correspondence. He later added that "There are now no reliable fixes for the vulnerability".

Following Scandal Involving Cambridge Analytica 200 Apps Suspended by Facebook
Once the second phase is complete, Facebook users will be notified via a Facebook website if their personal data was jeopardized. A spokesman for Antonio Tajani, the president of the parliament, did not immediately respond to an email seeking comment.

Possible tropical development could dump rain on Florida
A system has to have a closed center of circulation and winds of at least 39 miles per hour to become a named storm. Tropical systems are rare outside the hurricane season which runs from June first through November 31.

Neymar exhausted of transfer talk as Man United links appear
PSG's dominance of the French game this season was reflected in the awards. I spend my whole life, every transfer window, talking about it.

Sports Gambling Approval Could Set Off Wave of Changes
More than a dozen states had supported New Jersey , which argued that Congress exceeded its authority when it passed its law. MS is one key state to watch as they are one of the few states outside of Nevada to already have numerous casinos in place.

Sanders scolded staff for leak of White House official's 'dying' McCain comment
The Hill first reported the comment later confirmed by The Associated Press. "No one is condoning the remark", a source in the room argued.

Zarif says Russian Federation confirmed readiness to honor Iran deal despite U.S. pullout
Zarif's visit to the Russian capital Moscow is part of his global tour, as an effort to save the Iran nuclear deal. He will also have similar discussions with France, Germany and Britain on Tuesday.