Stocks fell across the board Wednesday, weighed down by a red-hot 10-year Treasury note that finished above 4.6% at four-week highs. Wall Street also unpacked the Fed’s Beige Book, which showed the U.S. economy experienced uneven growth over the last six weeks while higher prices scared off consumers. The Dow fell 411 points while the Nasdaq turned in its worst single-session digit drop since April 30.
Oil Prices Fall Alongside Gasoline
Gasoline prices dragged down oil futures today, while traders awaited a June 2 meeting of the Organization of the Petroleum Exporting Companies and its allies (OPEC+). July-dated West Texas Intermediate (WTI) crude shed 49 cents, or 0.6%, at $79.34 a barrel for the session.Gold prices fell on a stronger greenback and higher Treasury yields. For the session, June-dated gold fell 0.7% at $2,361.50 per ounce. More By This Author:Dow Drops 342 Points Ahead Of Fed UpdatesDow Dinged Again As Bond Yields Weigh Nvidia Again Boosts Nasdaq To Record Highs
