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.
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