U.S. stocks ended quite low on Tuesday as the first of two days of Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen testified about the state of the U.S. stock market. government to limit the economic damage from the COVID-19 pandemic without any surprises. However, growing concerns about prolonged closures in Europe due to the COVID pandemic helped reduce risk appetite and boost future CL.1,
in a corrective, defined as a decrease of at least 10% with respect to a recent peak. The Dow Jones Industrial Average ended with about 335 points, 1% lower than 32,395, marking the worst day since March 4th. The S&P 500 SPX Index,
closed 0.8% to about 3,910, with a reduction in power due to falls in industrial XLI,
and XLM materials,
while the Nasdaq Composite Index COMP,
the session ended 1.1% lower, with about 13,228. The fall in stocks accelerated at the end of the session and occurred even as the 10-year Treasury note yielded TMUBMUSD10Y,
fell about 6 basis points to 1.63%. Bond prices rise as yields fall.