[Breaking] New York Stocks Close Lower... Yields Rise Despite Bessent’s Additional Buyback Remarks
Despite U.S. Treasury Secretary Scott Bessent's announcement that the scale of buybacks would be expanded to over 4 billion dollars per round to defend against rising long-term Treasury yields, U.S. Treasury yields climbed again, and on August 20 (local time), all three major U.S. stock indexes ended the session lower.
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On this day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed down 1.32% from the previous trading day. The S&P 500 Index, which focuses on large-cap stocks, ended down 0.87%, while the tech-heavy Nasdaq Index fell 1.00% to close the session.
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