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• Brent crude edged 0.4% lower to $123.07 a barrel
• 10-year Treasury yield rose 1.3 basis points to 3.041%
The anticipation surrounding the Fed’s inflation report, due on Friday, caused a late tumbledown among US stocks with the Nasdaq shedding nearly 300 points.
The Dow Jones Industrial Average lost 638.11 points or 1.9%, to close at 32,272.79. The S&P 500 slipped 97.95 points, or 2.4%, ending at 4,017.82, and the Nasdaq Composite dropped 332.05 points, or 2.8%, finishing at 11,754.
The 10-year Treasury yield rose 1.3 basis points to 3.041%, holding above the critical 3% threshold.
The price of oil eased on Thursday, as front-month futures for WTI crude, the US benchmark, fell 0.5% to settle at $121.51 per barrel. Brent crude, the international benchmark for oil prices, edged 0.4% lower to $123.07 a barrel.
The inflation data could heavily influence the Federal Reserve’s interest-rate decisions for later this year.
Market movers
Shares of Walt Disney Company (NYSE: DIS) slipped 3.8% after the company said it was tapping Dana Walden as chairman of Disney General Entertainment Content.
Shares of Meta Platforms Inc. (NASDAQ: META) slipped by 6.43% after the company changed its ticker symbol from FB to META.
NXP Semiconductors (NASDAQ: NXPI) rose 4%, on reports of a potential takeover by Samsung.
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