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MARKETS LIVE: Wall Street ends lower as yields hit 2007 high
US stocks finished lower on Wednesday as a sharp rise in Treasury yields added pressure to equities, with the Dow, S&P 500 and Nasdaq all posting losses. The Dow Jones Industrial Average fell 352 points, or 0.7%, to 51,512, while the S&P 500 dropped 59 points, or 0.8%, to 7,706. The Nasdaq Composite declined 308 points, or 1.1%, to 26,936. The 10-year Treasury yield climbed above 5.11%, its highest level since 2007, as higher oil prices added to inflation concerns. A stronger-than-expected reading on US business activity also reinforced expectations that interest rates could remain elevated. The session's decline leaves investors watching the bond market closely, with higher yields continuing to weigh on valuations across equities. Attention now turns to Thursday's earnings calendar, with Costco, Darden Restaurants and BlackBerry among the companies due to report. Nine Mile Metals Ltd. (CSE:NINE, OTCID:VMSXF, FRA:KQ9) reported high-grade VMS mineralization at its Wedge Mine in New Brunswick, including a copper-rich zone that assayed up to 3.47% copper. Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) is advancing plans for a commercial-scale chlor-alkali plant in the western US that could operate as an independent revenue-generating asset alongside its lithium strategy. Grey Matters Health (CSE:GREY, OTCQB:AGNPD, FRA:AGW0) closed its…
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