U.S. stocks were recording their steepest fall in three weeks in midday trading on Tuesday, as a host of positive economic data increased the likelihood of a rate hike in the near term and sent the dollar soaring.
U.S. stocks little changed on Monday, on the heels of the Standard & Poor's 500 Index's best month in more than three years, as data showed consumer spending remained soft in January and ahead of a report on the manufacturing sector.
As pretty much everybody expected, the North American trading session’s direction was completely reliant upon the testimony of Federal Reserve Chairwoman Janet Yellen at the Senate Banking Committee this morning.
Alcoa Inc.’s speculative-grade credit ranking at Moody’s Investors Service makes it only the second junk-rated Dow Jones Industrial Average company in at least three decades. It took four years for the first to be ejected.