Wall Street today: US stocks dip on worries over Fed’s hawkish stance, Moderna sinks 23%
Live MintWall Street stocks edged lower on Monday, as Treasury yields climbed after robust jobs data last week bolstered expectations of a hawkish stance by the Federal Reserve for this year. At 09:50 a.m. the Dow Jones Industrial Average rose 105.06 points, or 0.25 per cent, to 42,043.51, the S&P 500 lost 40.79 points, or 0.70 per cent, to 5,786.25, and the Nasdaq Composite lost 274.13 points, or 1.43 per cent, to 18,887.50. At the opening bell, the Dow Jones Industrial Average fell 13.8 points, or 0.03 per cent, to 41,924.68. The S&P 500 fell 45.0 points, or 0.77 per cent, to 5,782.02, while the Nasdaq Composite dropped 258.0 points, or 1.35 per cent, to 18,903.664. Among individual stocks, Moderna sank 23.1 per cent after the drugmaker forecast lower revenues for this year between $1.5 and $2.5 billion, as compared to around $3 billion in 2024.