The yield on the 10-year Treasury fell to 1.53% from 1.61% late Tuesday. Long-term bond yields fell significantly and weighed down banks, which rely on higher yields to charge more lucrative interest on loans. The Nasdaq edged up less than 0.1% to 15,235.84, and the Russell 2000 index of small companies took the heaviest losses, falling 1.9% to 2,252.49. Most of the blue-chip index’s stocks were in the red, led by Visa, which slumped 6.9% a day after reporting strong quarterly results. Both it and the S&P 500 had logged record highs the day before. The Dow Jones Industrial Average lost 0.7% to 35,490.69. Those losses offset gains from communication services stocks and a mix of companies that rely on consumer spending. More than three fourths of the companies in the benchmark index fell, with financial, health care and industrial stocks accounting for most of the decline. In New York, investors were focusing on a mixed batch of earnings from various well-known companies including Microsoft, General Motors and Coca-Cola. The S&P/ASX 200 shed 0.5% to 7,408.40.įlaring cases of coronavirus in China and Singapore were adding to a general unease over the economic outlook, given signs that inflationary trends might lead central banks to move faster to tighten monetary policy. In Hong Kong, the Hang Seng gave up 0.3% to 25,550.84, while the Shanghai Composite index dropped 1% to 3,528.63. The Bank of Japan was expected to keep its monetary policy unchanged at a policy meeting that wraps up Thursday. However, the company said it was dealing with “longer-than-expected” component shortages that may affect the demand for semiconductors during the current quarter. Samsung’s dual strength in parts and finished products has allowed it to flourish during the pandemic as millions of people were forced to work at home. In Seoul, the Kospi edged 0.1% lower, to 3,024.04, even Samsung Electronics reported its highest quarterly profit in three years thanks to continued robust demand for its computer memory chips. Shares fell in all major regional markets and oil prices also declined. Asian shares fell Thursday after a retreat on Wall Street as banks and health care companies pulled the S&P 500 and the Dow Jones Industrial Average back from their latest record highs.
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