Stock Market Update
21-Feb-25 11:35 ET
Growth concerns piqued after data
Dow -374.56
at 43802.09,
Nasdaq -130.53
at 19831.83,
S&P -33.30
at 6084.32
[BRIEFING.COM] The major indices trail sideways near session lows.
The overall downside vibe is related in part to concerns about growth after today's economic data. The preliminary February S&P Global US Services PMI fell to contraction territory (i.e. below 50), the final University of Michigan Consumer Sentiment report for February dropped to 64.7, and existing home sales declined 4.9% month-over-month in January.
Treasuries saw increased buying in response to the data, another indication of growth concerns. The 10-yr yield dropped to 4.45% from 4.50%.
