{"id":26811,"date":"2022-05-05T16:47:50","date_gmt":"2022-05-05T16:47:50","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/05\/05\/dow-drops-1000-points-with-stock-market-in-free-fall\/"},"modified":"2022-05-05T16:47:50","modified_gmt":"2022-05-05T16:47:50","slug":"dow-drops-1000-points-with-stock-market-in-free-fall","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/05\/05\/dow-drops-1000-points-with-stock-market-in-free-fall\/","title":{"rendered":"Dow drops 1,000 points with stock market in free fall"},"content":{"rendered":"
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Shares are plummeting on Wall Street, erasing a rebound a day earlier as markets assess the consequences of the Federal Reserve’s intensified fight against inflation. <\/p>\n

The Dow fell more than 1,000 points, or 3%, from noon EST, while the S&P 500 fell 3.7%. The high-tech Nasdaq fell 4.8%.<\/p>\n

Markets recovered a day earlier after the Federal Reserve said on Wednesday it would not move as fast as some had feared raising interest rates. But traders are beginning to worry more about the impact of Fed moves to curb demand for cash loans as it tries to cool rising inflation.<\/p>\n

Bond yields have resumed upward, which will send type of mortgage<\/span> higher. The 10-year Treasury yield rose sharply to 3.1%, reaching its highest levels since late 2018.<\/p>\n

Technology companies had some of the biggest losses and weighed the market as a whole, in an investment of the solid gains they made a day earlier. Apple fell 3.4% and Microsoft 3.9%.<\/p>\n

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