U.S. stocks ended lower Monday, after a fresh COVID-19 lockdown in China hurt market sentiment and investors weighed remarks from Federal Reserve Bank of San Francisco President Mary Daly on interest rates. The Dow Jones Industrial Average edged down 0.1%, while the S&P 500 fell 0.4% and the Nasdaq dropped 1.1%, according to preliminary data from FactSet. San Francisco Fed President Daly said Monday that financial markets are acting like the Fed’s benchmark rate is around 6%, instead of the actual 3.75%-4% range. Earlier Monday, the Associated Press reported that China’s southern metropolis of Guangzhou locked down its largest district in a bid to contain a major COVID outbreak.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0