Wall Street slide as U.S. bond yields fall

Credit: Reuters Studio
Published on March 27, 2019 - Duration: 00:50s

Wall Street slide as U.S. bond yields fall

U.S. stocks eased on Wednesday as Treasury bond yields fell again.

As Fred Katayama reports, a prolonged inversion in the yield curve fanned fears of a U.S. economic slowdown.

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Wall Street slide as U.S. bond yields fall

Investors sold stocks and bought Treasury bonds Wednesday.

The Dow slipped.

The S&P 500 and Nasdaq dropped roughly half a percent as U.S. bond yields fell again, pressuring interest-sensitive bank stocks.

VictoryShares president Mannik Dhillon: SOUNDBITE: VICTORYSHARES PRESIDENT MANNIK DHILLON, (ENGLISH) SAYING: "There's global growth that's an uncertainty out there.

The trade wars that we've been dealing with we can't forget about.

But in the most immediate terms, it is the yield curve." Adding to investor concerns: Chinese industrial profits in the first two months of the year shrank by the most since late 2011.

And a recession indicator - the inversion of the Treasury yield curve - intensified.

WellCare Health Plans shares jumped.

Health insurer Centene is buying the healthcare provider for $15 billion.

Lennar rose.

The homebuilder said it sees the housing market improving even though its quarterly results missed analysts' estimates.

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