Warnings of slower sales drive US stocks lower


Grim sales forecasts from Walmart and Cisco, which will cut 5% of its workforce, plus concern the Fed will start tapering off its stimulus program, pummeled stocks — even though it’s a stronger economy that would spur the Fed to ease off. Investors also dumped bonds, driving up the 10-year Treasury yield. Odds appear higher that the Fed will begin winding down bond-buying next month — stimulus that has underpinned the market’s record run. Many fear higher interest rates resulting from the Fed’s move ‘will kill the recovery,’ said Alec Young, at S&P Capital IQ. That ‘seems like an overreaction,’ said Randy Frederick, at Schwab Center for Financial Research.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of