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US stocks fall again amid doubts over Fed policy


Louis, a NYSE-AMEX floor trader, works in an off-site trading office built when the New York Stock Exchange closed, due to the outbreak of the coronavirus disease in New York March 26, 2020. — Reuters pic
Louis, a NYSE-AMEX floor trader, works in an off-site trading office built when the New York Stock Exchange closed, due to the outbreak of the coronavirus disease in New York March 26, 2020. — Reuters pic

NEW YORK, Jan 10 — Wall Street stocks fell early today on ongoing worries over shifting Federal Reserve policy as investors await key inflation data and corporate earnings later in the week.

Analysts pointed to lingering unease after stocks dropped last week following signals from the Federal Reserve of an accelerated effort to tighten monetary policy.

The yield on the 10-year US Treasury note — a proxy for Fed interest rates — moved higher towards two per cent.

This week’s economic calendar includes reports on consumer pricing and retail sales, as well as earnings from JPMorgan Chase and other banks.

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.6 per cent at 30,015.16.

The broad-based S&P 500 shed 1.1 per cent to 4,626.99, while the tech-rich Nasdaq Composite Index dropped 1.7 per cent to 14,676.53.

Zynga jumped 46.3 per cent after it reached an agreement to be acquired by Take-Two Interactive for US$12.7 billion. Take-Two fell 12.8 per cent. —, Jan 10 —



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