Stocks Ended Lower on Growth Worries

U.S. stocks ended lower on Wednesday, as slumping bond yields sparked concerns of weaker economic growth. The Dow Jones Industrial Average dropped 221.36 points, or 0.87%, to 25,126.41. The S&P 500 declined 19.37 points, or 0.69%, to 2,783.02. The Nasdaq Composite fell 60.04 points, or 0.79%, to 7,547.31.

Oil futures fell as risk-on markets declined, but Middle tensions and expectations for a weekly drop in U.S. crude supplies helped prices finish off the session’s worst levels. West Texas Intermediate crude for July delivery fell 33 cents, or 0.6%, to settle at $58.81 a barrel. July Brent fell 66 cents, or 0.9%, to $69.45 a barrel.

The 30-year Treasury yield finished on Wednesday at its lowest level since Nov. 8, 2016. The 30-year bond yield TMUBMUSD30Y, -0.37% fell 3.4 basis points to 2.637% on Wednesday, based on Dow Jones Market data.