March 4, 2021

Stocks fell sharply today after Federal Reserve Chair Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check.

Dow Jones finished -346 at 30,924

S&P 500 finished -51 at 3,768

NASDAQ finished -274 at 12,723

The 10 Year Treasury closed up 7 basis points yielding 1.54%

Oil prices closed up $2.90 ending at $64.18 a barrel.

Gold prices closed down $20.20 ending at $1,695 an ounce.

In the days’ stock news:

Snowflake closed up almost 1% despite losing nearly $199 million in the fourth quarter, more than double the year-ago loss for the cloud database software company.
Burlington Stores closed up more than 11% after they reported revenue beating expectations.