US stocks drop as McDonald's faces food poisoning outbreak
Date
11/24/2024 7:20:34 AM
(MENAFN) Wall Street Stocks dropped early Wednesday, weighed down by another surge in US Treasury bond yields and weakness in McDonald's and Starbucks after negative news.
Experts have indicated to uncertainty surrounding the recent push higher by US treasury yields, uncertain if the dynamic indicates an advancing economic development outlook or concerns about a resurgence of inflation and angst regarding the US budget deficit.
Around 30 minutes into trading, the Dow Jones Industrial Average dropped 0.5 percent at 42,711.30.
The broad-based S&P 500 lost 0.3 percent at 5,832.61, whereas the tech-rich Nasdaq Composite Index shed 0.5 percent to 18,490.09.
Among individual firms, McDonald's dropped 6.1 percent following US health officials stated one individual passed away and dozens became in a bad condition after a severe E. coli outbreak due to McDonald's Quarter Pounder hamburgers.
The chain stated it was temporarily omitting the meal from branches in some countries. Most of the 49 conditions are focused in Colorado and Nebraska, based on the US Centers for Disease Control and Prevention.
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