Stocks Sink as Treasury Yields Keep Rallying
Dow Jones Falls 1%, S&P 500 Drops 1.3%, and Nasdaq 100 Slides 1.4%

Dow Jones Falls 1%, S&P 500 Drops 1.3%, and Nasdaq 100 Slides 1.4%

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US stocks edged lower on growing expectations for a turbo-charged taper, potentially more supply chain issues, and as Omicron derails reopening momentum, as companies delay return to the office and cancel holiday gatherings. An impressive jobless claims report could not overcome rising risks to the short-term outlook that stem from virus jitters and fears of an aggressive Fed. The next big move for equities will likely come after the US inflation report which could tilt the scales on how fast the Fed tapers and when we can expect that first rate hike

The Yen and Dollar may rise as stocks drop, triggering a break of key support for the bellwether S&P 500 index, if Aprils US employment data falls short of expectations.