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© Reuters. File photo: On June 28, 2021, a security camera can be seen beside a sign outside the New York Stock Exchange (NYSE) in New York City, USA. REUTERS/Andrew Kelly
Caroline Valletkevich
New York (Reuters)-The Dow Jones Industrial Average fell on Tuesday as investors took profits in some of the groups most closely related to economic growth, while the Nasdaq index edged higher, setting a record closing.
As U.S. Treasury bonds rose and bank stocks fell, 10-year Treasury bond yields hit their lowest level since February 24. [US/]
The Dow Jones index led the decline, while financial stocks and energy stocks together put pressure on the S&P 500 index.
At the same time, Beijing’s regulatory crackdown has pushed the shares of several U.S.-listed Chinese companies, including Didi Global, to be sold.
Alan Lancz, president of Alan B. Lancz & Associates Inc., an investment consulting firm based in Toledo, Ohio, said that after the strong performance at the end of the quarter and a series of recent records, investors may be Profit ended.
“This is a very good end of the quarter,” he said. Now, “cyclical stocks have really taken a hit.”
He said that with the decline in US Treasury yields, “investors may worry that the economy may not perform as well as the stock market.”
Last week, all three indexes rose for the fifth consecutive quarter. They set a new high on Friday.
The Standard & Poor’s 500 Index Growth Index also hit a record high on Tuesday, while the Standard & Poor’s 500 Index Value Index fell.
Informally, the index fell 204.9 points, or 0.59%, to 34,581.45, and the S&P 500 index fell 8.74 points, or 0.20%, to 4,343.6, an increase of 24.32 points, or 0.17%, to 14.663 points, and US service industry activity increased moderately. The pace in June may be limited by labor and raw material shortages.
rose.
Didi’s global share price fell after Chinese regulators ordered the company’s app last weekend to be delisted a few days after it was listed on the New York Stock Exchange for $4.4 billion.
Other Chinese e-commerce companies listed in the United States, including Alibaba (New York Stock Exchange:) The group also fell.
(Chart: Nasdaq records and returns, https://fingfx.thomsonreuters.com/gfx/mkt/rlgvdrajovo/MicrosoftTeams-image%20(12).png)
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