Dow falls, ending booming 2-day rally

US stocks ended slightly lower on Wednesday after a sharp fall in the morning.

The decline ended a two-day rally earlier in the fourth quarter. The three major indices posted losses in all three previous quarters.

The Dow Jones Industrial Average fell 41.52 points, or 0.14%, to 30,274.80. The S&P 500 fell 7.28 points, or 0.19%, to 3,783 and the Nasdaq Composite fell 27.77 points, or 0.25%, to 11,148.64.

Stocks rallied Monday and Tuesday, with the S&P 500 posting its biggest two-day gain since 2020. Shares fell sharply at the start of trading on Wednesday after yields on the benchmark 10-year government bond began to rise, rising 0.14% to 3.76%.

At one point Wednesday morning, the Dow was down more than 300 points. But it rallied along with broader markets.

Among stocks that fell was Google’s parent Alphabet (GOOG), which closed at $102.22, down $0.19, or 0.19%. Twitter (TWTR) shares fell $0.68, or 1.31%, to close at $51.32.

“It’s a moment of pause for the market to consider how durable the rally of the past two days might actually be,” Yung-Yu Ma, chief investment strategist at BMO Wealth Management, told CNBC. “The market is recognizing that it really does take a long time for the Fed to make a dovish turn.”

https://www.ibtimes.com.au/stock-market-today-dow-dips-ends-booming-2-day-rally-1839240?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Dow falls, ending booming 2-day rally

Fry Electronics Team

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