U.S. stocks fell in volatile trade on Wednesday after data showing strength in factory activity raised concerns about aggressive interest rate hikes by the Federal Reserve, sending Treasury yields higher. Ten of the 11 major S&P sectors fell in morning trade, with financial and real estate stocks leading the losses. Energy stocks gained 1.1% as oil prices firmed. Megacap companies Apple Inc, Microsoft Corp and Amazon.com gained between 0.5% and 1.4% to provide the biggest boost to the S&P 500 and the Nasdaq. The S&P index recorded one new 52-week highs and 29 new lows, while the Nasdaq posted 12 new highs and 48 new lows.

Source: Mint June 01, 2022 17:00 UTC