TRQ:CC - Markets Reel on Fear of Interest Rates
U.S. equities fell Thursday, the first day of September, as traders continued to fret over the potential for higher Federal Reserve rates.
The Dow Jones Industrials came off their lows of the morning, remained behind breakeven, however, by 134.53 points to reach noon hour at 31,375.90.
The S&P 500 dumped 39.82 points, or 1%, to 3,915.18.
The NASDAQ Composite slouched 249.38 points, or 2.1%, to 11,566.82.
All of the major averages are on track to finish the week lower. The Dow is set to post a nearly 3% decline, while the S&P floundered 3.5% and NASDAQ was on pace to end down about 4.5%.
The Dow closed August down about 4.1%, while the S&P slipped 4.2%, and NASDAQ recorded a loss of 4.6%.
Nvidia shares also contributed to the losses, falling more than 8% after the chipmaker said the U.S. government is restricting some sales in China.
Weekly U.S. jobless claims fell to 232,000 for the week ending Aug. 27. That was weaker than economists surveyed by Dow Jones expected. It was also a decline from the previous period and the lowest level since June 25.
Treasury prices sagged, raising yields to 3.26% from Wednesday's 3.19%. Treasury prices and yields move in opposite direction.
Oil prices stumbled $2.74 to $86.81 U.S. a barrel.
Gold prices decreased $21.00 to $1,705.20 U.S. an ounce.