In New York trading on the 18th, the Dow retreated, closing down $95.40 at $51,682.64. The US 10-year Treasury yield briefly rose above 5%, while crude oil traded near $100.
The Dow Jones Industrial Average ended trading in New York on the 18th at $51,682.64, down $95.40 from the previous day, marking a retreat. By contrast, the Nasdaq Composite rose 104.25 points to 26,522.55, extending its advance and highlighting the increasingly pronounced divergence between the two markets.
The Dow remained weak from shortly after trading began, at one point widening its loss to $51,653.18 as of 9:35 a.m. before recovering somewhat. Rising long-term interest rates weighed on stocks, while crude oil futures trading near $100 also had an impact.
In foreign exchange markets, the dollar-yen rate fell to ¥156.60, with buying of the yen accelerating amid reports that the Bank of Japan was conducting a rate check. The euro-dollar rate fell to $1.1455 before rebounding to $1.1490. Crude oil prices continued to decline as concerns over Saudi supply eased, with WTI ending trading at $101.91.
Among individual stocks, IBM and Walt Disney fell notably, while Amgen was bought. Following the previous day's trend, rising long-term interest rates and higher oil prices weighed on investor sentiment, while the Nasdaq's rebound continued to benefit from support from technology stocks.