--- title: "Wall Street Weighed Down by Hawkish Fed Comments" description: "Wall Street closed lower as the 10-Year Treasury note surpassed 4% and losses accelerated following hawkish remarks from the Federal Reserve. The Dow had its worst drop in almost two weeks, while the " type: "news" locale: "en" url: "https://longbridge.com/en/news/106126410.md" published_at: "2024-01-16T21:29:22.000Z" --- # Wall Street Weighed Down by Hawkish Fed Comments > Wall Street closed lower as the 10-Year Treasury note surpassed 4% and losses accelerated following hawkish remarks from the Federal Reserve. The Dow had its worst drop in almost two weeks, while the Nasdaq and S&P 500 also finished in the red. The Cboe Volatility Index recorded its third consecutive win. In other news, a federal judge blocked JetBlue Airways' purchase of Spirit Airlines, and the U.S. Supreme Court rejected Apple and Epic Games' request to hear their antitrust case. Commodity prices were pressured by a stronger U.S. dollar, but tensions in the Middle East limited losses. Wall Street finished the first session of the holiday-shortened week lower, with the 10-year Treasury climbing above 4% and **midday losses** accelerating after Federal Reserve Governor Christopher Waller implied there will be 'no rushing' to ease the central bank's monetary policy. The Dow shed 231 points for its worst single-session drop in nearly two weeks, while the Nasdaq and S&P 500 also closed firmly in the red, the latter snapping a six-day win streak. Elsewhere, the Cboe Volatility Index (VIX) logged its third-straight win. *Continue reading for more on today's market, including:* - The new **most valuable** publicly traded company. - A **chip stock** to target in 2024. - Plus, encouraging signals for bulls; WDC's upgrade; and bank earnings to unpack. ** ## 5 Things to Know Today 1. In a win for the Justice Department, a **federal judge blocked** JetBlue Airways' (JBLU) purchase of Spirit Airlines (SAVE). This comes after the department sued to stop the merger on allegations that it would increase fares for price-sensitive buyers. (*CNBC*) 2. The U.S. Supreme Court today **rejected a request** from Apple (AAPL) and Epic Games to hear disputes in their antitrust case. (*MarketWatch*) 3. If you look closely, there are encouraging **signals flashing**. 4. Upgrades helped **computer hardware stock** zag today. 5. Earnings season was not kind to these **bank stocks**. ** ** ## Commodity Prices Pressured By Strengthened Greenback Oil futures were pressured on Tuesday by a strengthening U.S. dollar. However, ongoing tensions in the Middle East kept losses in check, with disrupted tanker traffic threatening oil supplies. For the session, West Texas Intermediate (WTI) crude for the February contract lost 28 cents, or 0.4%, to finish at $72.40 per barrel. Rising bond yields and a higher U.S. dollar also took their toll on gold futures, with February-dated gold shedding $21.40, or 1%, to close at $2,030.20 per ounce, and added 0.9% this week. ### Related Stocks - [NDAQ.US - Nasdaq](https://longbridge.com/en/quote/NDAQ.US.md) - [JBLU.US - Jetblue Airways](https://longbridge.com/en/quote/JBLU.US.md) - [AAPL.US - Apple](https://longbridge.com/en/quote/AAPL.US.md) - [300376.CN - East Group](https://longbridge.com/en/quote/300376.CN.md) - [SAVEQ.US - SPIRIT AIRLINES INC](https://longbridge.com/en/quote/SAVEQ.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | US trading partners cheer Supreme Court tariff ruling — but businesses must still navigate 'murky waters' | The U.S. Supreme Court voted 6-3 to strike down large parts of President Trump's tariff policies Friday. | [Link](https://longbridge.com/en/news/276468032.md) | | IronBridge Private Wealth LLC Has $905,000 Holdings in Apple Inc. $AAPL | IronBridge Private Wealth LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 77.3% in Q3, holding 3,555 shares valued | [Link](https://longbridge.com/en/news/276436345.md) | | Apple Inc. $AAPL Position Lifted by Rossmore Private Capital | Rossmore Private Capital increased its position in Apple Inc. (NASDAQ:AAPL) by 1.1% in Q3, owning 204,242 shares valued | [Link](https://longbridge.com/en/news/276436349.md) | | Carmel Capital Partners LLC Sells 2,379 Shares of Apple Inc. $AAPL | Carmel Capital Partners LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 20.1% in Q3, selling 2,379 shares and holdi | [Link](https://longbridge.com/en/news/276314454.md) | | Apple Inc. $AAPL Shares Sold by ERn Financial LLC | ERn Financial LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 14.4% in Q3, holding 17,732 shares valued at $4.5 mil | [Link](https://longbridge.com/en/news/276423617.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.