U.S. stocks extended losses, pushing the Dow Jones Industrial Average to its lowest level since mid-April. Stocks have pulled back in recent sessions after a rally propelled the Dow within striking distance of its all-time high. A rebound in oil prices and economic data showing the U.S. wasn't in immediate danger of falling into a recession helped spark the advance in stocks since February. But sentiment around economic growth both in the U.S. and overseas has proved fickle this year, leading to sudden shifts in sectors like banking and transportation stocks. The Nasdaq Biotechnology index dropped 3%, underscoring a retreat from risk. Meanwhile, shares of utility companies in the S&P 500 rose 1.3%, notching the biggest sector advance. Those stocks tend to pay high dividends, which investors seek out in periods of uncertainty.
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