US Stocks Fluctuate With Real-Estate, Technology Among Worst Performers in Midday Trading; Digital Currencies Slump

Last Updated: Friday, September 24, 2021 12:34 PM | MT Newswires

US stocks were mixed in choppy trade as real-estate and technology led decliners after government bond yields extended gains to the highest since early July.

The Dow Jones Industrial Average rose by less than 0.1% to 34,771.13, with S&P 500 also up by less than 0.1% but Nasdaq down by 0.2%. All three indexes traded lower earlier in the session. Energy and financials were among the biggest gainers after midday on Friday.

The 10-year US Treasury yield climbed 3.2 basis points to almost 1.45%, pushing the dollar up by 0.4% against the Japanese yen to 110.72.

Media reports speculated investors who own Evergrande's US dollar bonds had not received an interest payment before the expiry of the Thursday deadline and that China's largest real-estate group is said to have a 30-day grace period to make the payment.

Investor sentiment was also undermined after China's central bank reportedly said all cryptocurrencies-related activities are illegal. Digital currencies such as bitcoin, ether, and litecoin were all down in mid to high single digits by midday.

West Texas Intermediate crude oil advanced by 0.5% to $73.64 a barrel.

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