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Wall Street ended the day down after trading in a broad range on Monday as tensions between Saudi Arabia and the Western powers about a missing journalist added to the worry persistently linked to rising borrowing costs and slowing global growth.
The S & P 500 closed down 0.6% to 2,750.79 after another rollercoaster session that saw the index rise 0.3% and fall 0.7%. The industrial average of the Dow Jones has experienced such a volatile business activity. He finished down 0.4% at 25,250.55 points, after a late late afternoon selloff that wiped out a 0.6% advance. The Nasdaq Composite came out of its lowest level of the session but ended the day with a 0.9% drop to 7,430.74.
The declines add to the rebound on Wall Street since last week. US stocks have been shaken in the past two weeks by rising interest rates and a sell-off in the US government bond market that has briefly pushed yields to their highest level since 2011.
Global growth worries also weighed on markets, as the IMF downgraded its forecasts for several economies last week.
In response, investors rushed to take profits from the once-popular technology sector. The sale of technology stocks once again led the downside on Wall Street on Monday. The sector posted the worst performance of the day, down 0.8%. Then come the health and energy sectors, which recorded decreases of 0.6% and 0.5% respectively.
Oil prices also experienced trade volatility as Saudi Arabia reacted to the growing indignation of the international community after the disappearance of a Washington Post reporter. After taking the lead on Sunday – after the kingdom threatened to use its economic punching power if it was targeted by US sanctions sanctioning the disappearance of journalist Jamal Khashoggi – oil rose by 0.5 % Monday, as President Donald Trump softened his position.
Treasuries have had modest sales, pushing yields higher. The 10-year note yield was up 1.5 basis points to 3.157%. The dollar, as measured by the DXY index, fell 0.2%.
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