Most US Stocks Close Lower as Middle East Conflict Fuels Inflation Fears

(CNA, New York, 19th, Comprehensive Foreign Report) Soaring energy prices driven by the conflict in the Middle East have sparked concerns that inflation could remain high for some time, triggering a sell-off in U.S. Treasury bonds. The yield on the 30-year Treasury bond, which moves inversely to its price, once climbed to 5.19%. As a result, major U.S. stock indices mostly closed lower today. The Dow Jones Industrial Average fell 322.24 points, or 0.65%, to close at 49,363.88. The S&P 500 index dropped 49.44 points, or 0.67%, to end at 7,353.61. The Nasdaq Composite slid 220.02 points, or 0.84%, to 25,870.71. The Philadelphia Semiconductor Index edged up slightly by 2.98 points, or 0.03%, to 11,305.50. (Translator: Kao Chao-fen / Editor: Hung Chi-yuan) 1150520