Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

US STOCKS-Inflation fears push S&P 500 to one-month low

Stock MarketsMay 12, 2021 00:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window.)
* Simon Property drops on bleak outlook
* L Brands falls on plans to split into two public cos
* Energy stocks fall as oil prices slide
* Indexes down: Dow 1.29%, S&P 0.97%, Nasdaq 0.45%

(Adds comment, details; updates prices)
By Medha Singh and Sruthi Shankar
May 11 (Reuters) - Wall Street's main indexes fell for a
second straight session and the S&P 500 hit a one-month low on
Tuesday, as investors feared that rising inflation could push
the Federal Reserve to tighten monetary policy faster than
expected.
The outperformers of 2020, Apple AAPL.O , Amazon.com Inc
AMZN.O , Microsoft Corp MSFT.O , Google-parent Alphabet Inc
GOOGL.O and Tesla Inc TSLA.O fell between 0.8% and 2.4%,
weighing the most on the benchmark index.
The yield on benchmark U.S. 10-year Treasury note
US10YT=RR ticked up to session high of 1.631% ahead of
consumer price index report on Wednesday.
Investors have grown wary of fast price rises even though
the central bank has repeatedly said it views any inflation that
occurs to be transitory. US/
"There is a real debate on whether this increase in
inflation is transitory, and how it's going to play through,"
said Jonathan Golub, chief U.S. equity strategist at Credit
Suisse.
"There is a certain level of inflation that will make
(markets) uncomfortable, even if the Fed doesn't respond."
Rapid vaccinations, massive fiscal and monetary support and
a better-than-expected quarterly earnings season had lifted the
S&P 500 and the Dow to record closing highs as early as Friday.
However, on Tuesday, the CBOE volatility index .VIX jumped
to its highest in two months to 23 points and all major S&P
sectors moved to the red.
The energy index .SPNY saw the biggest slide of 1.9% due
to weaker oil prices. O/R
At 11:49 a.m. ET, the Dow Jones Industrial Average .DJI
was down 449.23 points, or 1.29%, at 34,293.59, the S&P 500
.SPX was down 40.71 points, or 0.97%, at 4,147.72. The Nasdaq
Composite .IXIC was down 60.18 points, or 0.45%, at 13,341.67.

Simon Property Group Inc SPG.N fell 3.4% after the U.S.
mall operator said it does not expect a return to 2019 occupancy
levels until next year or 2023, as it looks to play hardball in
rent negotiations with tenants. L Brands Inc LB.N fell 4.6% after the retailer said it
will split into two publicly traded companies, Bath & Body Works
and Victoria's Secret, deciding against a sale of its lingerie
brand. Declining issues outnumbered advancers for a 4.24-to-1 ratio
on the NYSE and for a 2.12-to-1 ratio on the Nasdaq.
The S&P index recorded four new 52-week highs and one new
low, while the Nasdaq recorded 14 new highs and 209 new lows.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Inflation https://tmsnrt.rs/2SxpkST
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

US STOCKS-Inflation fears push S&P 500 to one-month low
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email