NEW YORK, Dec 7: US stocks closed mixed as fears for economic slowdown continued.
The Dow Jones Industrial Average fell 79.40 points, or 0.32 per cent, to 24,947.67. The S&P 500 was down 4.11 points, or 0.15 per cent, to 2,695.95, Xinhua news agency reported.
The Nasdaq Composite Index increased 29.83 points, or 0.42 per cent, to 7,188.26.
The US three-year treasury note yield surpassed its five-year note on Monday. The inverted yield curve caught investors' attention because historical statistics showed that when short-term yields trade above longer-term rates a recession could follow.
Anxiety around a potential yield curve inversion sent the yield on the benchmark 10-year Treasury note and the 30-year Treasury bond to 2.892 per cent and 3.158 per cent respectively. Bond yields move inversely to prices.
On the data front, the US trade deficit increased 1.7 per cent to $55.5 in October, hitting a 10-year high, as soybean exports continued to decline and imports of consumer goods increased largely. - IANS