Stock Market Update
04-May-26 14:00 ET
Gold drops 2.4% as stronger dollar, rising yields pressure demand
Dow -442.72
at 49056.55,
Nasdaq -23.77
at 25090.67,
S&P -23.50
at 7206.62
[BRIEFING.COM] The tech-heavy Nasdaq Composite (-0.09%) is in "first" place among the major averages on a losing session, down just 24 points this afternoon.
Gold futures settled $111.20 lower (-2.4%) at $4,533.30/oz, as a stronger U.S. dollar and rising Treasury yields, driven by higher oil prices and renewed inflation concerns tied to Middle East tensions, reduced demand for non-yielding assets. The decline was exacerbated by thin trading conditions and positioning ahead of upcoming U.S. economic data.
Meanwhile, the U.S. Dollar Index is +0.3% higher to $98.44.
