Page 25 - ARUBA TODAY

BUSINESS Wednesday 28 February 2018
A25

Treasury yields rise, stocks slide following Fed testimony

percent, to 25,410.03, and long it's been since inves-
the Nasdaq composite fell tors have had to contend
91.11, or 1.2 percent, to with a market where infla- La Cabana BRC
7,330.35. tion is a threat and interest 1 br WK 11 and 12
The Fed raised its key policy rates are rising, Weiss said. room #414 a
interest rate three times last The last time was before best View Pool/ocean
year and has signaled that the 2008 financial crisis. $17,000 both
another three increases “You have a generation of Call:630-1307
may be coming in 2018. brokers and advisers who johnnypaesch@gmail.com
Powell reaffirmed to the have not experienced this
House Financial Services side of the economic cy- _______________________________209173
Divi Dutch Village
Committee that the cen- cle,” he said. 1 br Wk 8 room #94 $8500
tral bank plans to raise in- The rise in Treasury yields Pool/view 26 weeks remain
terest rates gradually as the sent stocks that pay big div- divi Village
This photo shows an historic marker on Wall Street in New York. economy improves. idends to some of the mar- studio WK 6 room #5508
Treasury yields rose Tuesday, and the Standard & Poor's 500 in- The market got spooked ket’s steepest losses. When 23 weeks remain $8000
dex slid to its first loss in four days. earlier this month when bonds are paying more in
(AP Photo/Mark Lennihan) potential signs of inflation interest, they can lure in- Call:630-1307
strengthened, which raised come investors away from johnnypaesch@gmail.com
By STAN CHOE outlook for how quickly the speculation that the Fed dividend-paying stocks. ________________________________209173
NEW YORK (AP) — Treasury Fed will raise interest rates. may speed up its timetable. Real-estate investment Aruba Divi Phoenix
yields rose Tuesday, and The immediate reaction in Stocks around the world fell trusts in the S&P 500, which studio week 7 room #1103
the Standard & Poor's 500 the bond market was to sharply as a result, with the are among the biggest $9000
index slid to its first loss in send Treasury yields higher, S&P 500 losing 10 percent dividend payers, lost 2.1 18 weeks remain 10 accelerated
four days after the head and the yield on the 10- from its record high at one percent for the biggest loss studio Week 8 room #1404
of the Federal Reserve said year note climbed to 2.90 point. If the Fed does raise among the 11 sectors that $8500
that he's feeling more opti- percent from 2.86 percent rates four times this year, it make up the index. Utilities 26 weeks remain 10 acclerated
mistic about the economy. late Monday. It had been could upset markets when fell 1.7 percent. Comcast Call:630-1307
The testimony by Fed Chair- down earlier in the morn- many investors have been had one of the biggest johnnypaesch@gmail.com
man Jerome Powell before ing. preparing for only three losses in the S&P 500 after it _______________________________209172
Congress was highly an- Higher interest rates can increases, said Rich Weiss, launched a bid for Europe-
ticipated, and he gave en- hurt stock prices by mak- chief investment officer an pay TV broadcaster Sky. Tropicana Resort and Casino
couraging words about the ing bonds more attractive. of multi-asset strategies at The buyout offer is for 22.1 1 br WK 7 room #5559
economic data that have Generally, when interest American Century Invest- billion pounds ($29.5 bil- 1 br WK 8 room #1537
arrived in recent weeks. But rates are rising, companies ments. lion), and Comcast’s Class Price : $8000 each
some investors speculated need to produce bigger What may make things A shares lost $2.92, or 7.4 Divi Links Golf
they could mean the cen- profits just for their stock even more muddled is how percent, to $36.66.q 1br week 8&9 room #4229
tral bank will get more ag- prices to stay flat. 28 weeks remain $8,500 each
gressive in raising interest The S&P 500 fell 35.32 points, Call:630-1307
rates than the market has or 1.3 percent, to 2,744.28. johnnypaesch@gmail.com
prepared for. It had been bouncing be- ________________________________209172
"My personal outlook for tween modest gains and
the economy has strength- losses early in the morning, Aruba Divi Phoenix
ened since December," but the losses accelerated 1 br wk 10 and 11
Powell said in response to after Powell began answer- room # 844 35/10 accelerated
a question about whether ing questions on Capitol in the summer pool/ocean view
the recently passed tax cut Hill. $35,000 both
and other moves by Con- The Dow Jones industrial Call: 630-1307
gress have changed his average lost 299.24, or 1.2 johnnypaesch@gmail.com
________________________________209172