The second quarter isn’t off to the best start, with the Dow logging a second consecutive, triple-digit drop this afternoon – its worst daily performance in weeks. Treasury yields are increasing as investor outlook dims over the possibility of interest rate cuts in June, especially as last week’s inflation data continues to weigh. The profit taking continued for the tech-heavy Nasdaq, while the S&P 500 trailed closely behind.
OIL, GOLD SURGE ALONGSIDE MIDDLE EAST TENSIONS
As tensions in the Middle Easter continue to heighten, crude prices follow suit. For the first time since October, May-dated West Texas Intermediate (WTI) rose $1.44 or 1.7%, to finish at $85.15 per barrel.Also riding on the heels of international tension is gold, with the precious commodity pushing to record highs and brushing off a strong U.S. dollar. June-dated gold finished up $24.70 or 1%, at $2,281.80 per ounce.More By This Author:Dow Stumbles, Heads For Worst Day Since February
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