Wall Street Slides On Economy Fears

Wall Street stocks declined on Wednesday following a choppy session as the market grappled with lingering worries over the economic growth outlook.

The Dow Jones Industrial Average dipped 0.1 per cent to finish at 25,626. But the other major indexes saw bigger declines: The broad-based S&P 500 shed 0.5 per cent ending at 2,805, while the tech-rich Nasdaq Composite Index fell 0.6 per cent to 7,643.

Investors have been weighing how seriously to view a big drop in 10-year US Treasury bond yields in recent session, traditionally a sign of medium- and long-term economic weakness.

The yield on the 10-year US Treasury note on Wednesday fell to its lowest level since December 2017.

"Buyers showed up during the second part of the session," said Adam Sarhan of 50 Park Investment, who considers the market's jitters over bond yields overblown.

But "if the bond market is right, then the stock market can go down further," Sarhan added. (AFP)