Stocks pulled back from their midday gains, though the Nasdaq managed a modest win, snapping its five-day losing streak. Both the blue-chip index and SPX logged a sixth-straight day of losses and ended at nearly two-year lows, with the latter marking its longest losing streak since February 2020 and earlier touching a fresh bear-market low. The Dow closed 125 points lower, this afternoon dropping below 29,000 for the first time in two years. Meanwhile, the 10-year Treasury yield is inching closer to 4% -- a level it hasn't seen since 2010.

The Dow Jones Average (DJI - 29,134.99) fell 125.8 points or 0.4%. Salesforce.com (CRM) led the winners with a 1.8% rise, while McDonald's (MCD) was the worst performer with a 2.9% drop. 

The S&P 500 Index (SPX - 3,647.29) dropped 7.8 points or 0.2%, while the Nasdaq Composite (IXIC - 10,829.50) added 26.6 points, or 0.2%. 

Lastly, the Cboe Volatility Index (VIX - 32.60) added 0.3 points or 1%.

OIL, GOLD BOUNCE OFF LOWS

Oil futures rebounded from their multi-month lows, after settling at their lowest finish since early January in yesterday's session. November-dated West Texas Intermediate (WTI) crude rose $1.79, or 2.3%, to settle at $78.50 a barrel as Hurricane Ian slows production.  

Gold moved higher after two straight days of losses and their lowest level since April 2020. December gold climbed $2.80, or 0.2%, to settle at $1,636.20 per ounce. 

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