Stocks close lower as falling rates stoke slowdown worries

Stocks ended lower Tuesday as a decline in interest rates during the U.S.-China trade war sparked worries about a possible slowdown in the economy.

The Dow closed down 237 points, giving up a 131-point gain from earlier in the day. The S&P 500 pulled back 0.8% as the consumer staples and utilities sectors lagged. The Nasdaq shed 0.4%. The S&P 500 and Nasdaq had traded higher earlier in the session. The major indexes slid to their session lows in the last hour of trading.

The yield on the benchmark 10-year note fell to around 2.26%, its lowest level in 19 months. Yields move inversely to prices.

Bank shares fell broadly amid the lower interest rates. Goldman Sachs dropped 1.8% while Citigroup and J.P. Morgan Chase fell 0.9% and 1.1%, respectively. Morgan Stanley and Wells Fargo also slipped.

https://www.msn.com/en-us/money/markets/stocks-close-lower-as-falling-rates-stoke-slowdown-worries/ar-AAC1oNe