US stocks fell due to rising Treasury yields and concerns about fewer Fed rate cuts

From Investing.com: 2024-11-15 13:15:52

U.S. stocks fell on Friday due to rising Treasury yields and concerns about fewer Federal Reserve rate cuts. The Dow dropped 331 points, the S&P 500 fell 1.4%, and the Nasdaq slipped 2.4%.

Retail sales in the U.S. rose 0.4% in October, beating expectations, indicating robust consumer spending. Import prices also unexpectedly rose by 0.3%. This data eased expectations of further rate cuts by the Fed.

Applied Materials dropped 8.7% after missing earnings expectations. Alibaba fell 2.7% after reporting moderate revenue growth. Pool Corporation climbed after Berkshire Hathaway took a stake in the company. Palantir announced it was moving its listing to the Nasdaq, sending shares up 8%.



Read more at Investing.com: US stocks lower as yields rise on bets for cautious Fed rate-cut path ahead By Investing.com