Stocks Finish Lower With 10-Year Yield Topping 3%: Markets Wrap
- New-home sales plummet to slowest pace since early 2016
- Business activity contracts again, weakest in over two years
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Stocks retreated after weak economic data, with traders awaiting more clarity on the Federal Reserve’s monetary policy path from the annual central bankers’ symposium later this week.
The S&P 500 saw its third straight drop after swinging between gains and losses throughout the session. Trading volume was among the lowest in 2022. Treasury 10-year yields topped 3%, while the dollar halted a four-day rally.