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Kiplinger

Business

Karee Venema

Stock Market Today: Dow Slips After Travelers' Earnings Miss

Dow UAL NVDA Nvidia UNH United Airlines

Travelers Insurance logo on smartphone with red and white checked background.

Stocks opened higher Wednesday but didn't stay there for long as anxiety over higher-for-longer interest rates weighed on sentiment. A selloff in several Magnificent 7 stocks didn't help matters.

Hawkish commentary from Federal Reserve Chair Jerome Powell, who said that the federal funds rate could remain at a restrictive level if high inflation persists, sent stocks lower Tuesday. The Dow Jones Industrial Average eked out a win, though, thanks to post-earning strength from UnitedHealth Group (UNH) stock.

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