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us stock markets decline as treasury yields remain elevated
U.S. equities faced declines as the S&P 500 and Nasdaq hit two-month lows, influenced by elevated Treasury yields and reduced expectations for Federal Reserve rate cuts. The S&P 500 has fallen in four of the last five weeks amid inflation concerns, while the Dow rose, buoyed by a significant gain in UnitedHealth Group following proposed Medicare reimbursement rate increases. The Russell 2000 index also dropped, entering correction territory.
stocks rebound as dollar slips following strong manufacturing data
U.S. stocks rallied in early trade, with the S&P 500 and Nasdaq each gaining over 1%, attempting to end a five-session decline. The dollar slipped after a recent rally, despite a stronger-than-expected manufacturing survey, while U.S. Treasury yields stabilized. Global stocks saw a modest increase, but the dollar index fell 0.2%, reflecting mixed market sentiments.