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US stocks close mixed as fears for economic slowdown continue

IANS  |  New York 

US stocks closed mixed as fears for economic slowdown continued.

The Dow Jones Industrial Average on Thursday fell 79.40 points, or 0.32 per cent, to 24,947.67. The S&P 500 was down 4.11 points, or 0.15 per cent, to 2,695.95, reported.

The increased 29.83 points, or 0.42 per cent, to 7,188.26.

The US three-year surpassed its five-year note on Monday. The inverted curve caught investors' attention because historical statistics showed that when short-term yields trade above longer-term rates a recession could follow.

Anxiety around a potential curve inversion sent the yield on the benchmark 10-year and the 30-year Treasury to 2.892 per cent and 3.158 per cent respectively. yields move inversely to prices.

On the data front, the US trade deficit increased 1.7 per cent to $55.5 in October, hitting a 10-year high, as soybean exports continued to decline and imports of consumer goods increased largely.

The rose to 60.7 in November as services sectors continued to expand, according to data released Thursday by the

--IANS

pgh/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 06:12 IST
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