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Surging Treasury yields pushed US equities into their third day of losses Thursday, as investors’ concerns about high interest rates and recession remained in the driver’s seat a day after the Federal Reserve signaled another rate increase may be necessary this year. The S&P 500 Index and Nasdaq Composite were both near lows not seen since June, after falling 1.6% and 1.1%, respectively. Recession or interest rate concerns weighed particularly heavily on sectors viewed as having greater exposure to those factors. Shares of real estate, consumer discretionary, and financial companies were among the market’s poorest-performing sectors Thursday. European shares also closed lower yesterday, with the Euro Stoxx 50 Index down 1.5%, dragged by travel and leisure shares as well as mining companies.
Summary for 22.09.2023
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