Stocks finished the latest trading day of the year with their second consecutive day of losses. The tech-heavy Nasdaq followed up its worst day since October with a triple-digit dip, even after the 10-year Treasury yield slipped back below the 4% level. Meanwhile the Dow shed over 280 points and the S&P 500 settled in the red, after the Federal Reserve’s meeting minutes hinted that the central bank isn’t ready to lower rates just yet.
GOLD PRICES WIPE OUT YESTERDAY’S GAINS
Oil futures took a step forward Wednesday, following deadly explosions at a ceremony that marked the anniversary of the death of an Iranian military officer. Reports of protests shutting down Libya’s largest oilfield also buoyed black gold. For the session, West Texas Intermediate (WTI) crude for February delivery added $2.32, or 3.3%, to finish at $72.70 a barrel.Meanwhile, gold prices turned yesterday’s gains around, after the greenback strengthened ahead of the Fed’s commentary. Today, February-dated gold futures shed $30.20, or 1.5% to settle at $2,042.80 per ounce.More By This Author:Stocks Extend Selloff, Nasdaq Eyes 4th-Straight Drop
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