NEW YORK — Stocks edged greater in afternoon trading on Wall Street Wednesday following the market’s worst day in 2 years on fears about greater interest rates and the economiccrisis they might develop.
The S&P 500 increased 0.4% as of 12: 01 p.m. Eastern. The criteria index is coming off its mostsignificant drop because June 2020, which ended a four-day winning streak.
The Dow Jones Industrial Average increased 65 points, or 0.2%, to 31,174 and the Nasdaq increased 0.7%.
Energy stocks had some of the greatest gains as U.S. crude oil costs increased 2.2%. Exxon Mobil increased 3.2%.
Bond yields stayed fairly steady after jumping on on Tuesday. The yield on the two-year Treasury increased to 3.76% from 3.75% late Tuesday, when it skyrocketed on expectations for more aggressive interest rate walkings by the Federal Reserve.
The yield on the 10-year Treasury, which assists determine where homeloans and rates for other loans are heading, increased to 3.40% from 3.41%.
A report on inflation at the wholesale level revealed rates are still increasing quickly, with pressures structure below the surfacearea, even if total inflation slowed. It echoed a report on inflation at the customer level Tuesday, which raised expectations for interest-rate walkings and setoff a thrashing for m