Dow tumbles 300 points, S&P 500 skids 1.3% as investors eye Fed response to strong U.S economic data

U.S. shares fell Monday to kick off a recent week, with the S&P 500 and Nasdaq each down greater than 1.2% heading into noon. The Dow Jones Industrial Common
was down about 299 level, or 0.9%, buying and selling close to 34,134, whereas the S&P 500 index
was off 1.2% and the Nasdaq Composite Index
was 1.4% decrease, in keeping with FactSet. Shares had been decrease on fears that the Federal Reserve may must be extra aggressive in 2023
in tightening financial coverage than beforehand anticipated to tame excessive inflation, on condition that the U.S. financial system has confirmed comparatively resilient to the Fed’s aggressive tempo of price hikes already this yr. The ten-year Treasury yield additionally was marching larger, up 7 foundation factors to about 3.58% on Monday, whereas the shorter 2-year Treasury price was at 4.36%.

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