The Dow Jones Industrial Average fell for a third session, closing at its lowest level since mid-June as the 30-year US Treasury yield touched 5.50%, the highest since June 2004. New York Fed President Williams said another rate increase this year looks reasonable, while Philadelphia Fed President Paulson said rates may need to rise a little more. Sherwin-Williams was among the index\u2019s three biggest decliners alongside Walmart and IBM.<\/p>\n\n
Equities pared losses after a Reuters report said US and Iranian negotiators were discussing a phased deal to reopen the Strait of Hormuz; Brent crude still settled above $106 a barrel and finished higher on the day. The Dow dipped to the 51,100 area, below the 16 September low near 51,200, and it has retraced about 70% of the June-to-August advance that peaked near 54,750. By contrast, the S&P 500 ended flat and the Nasdaq Composite edged higher. The Dow remained well under its 50-day moving average near 52,500, and the daily Stoch RSI fell below 20 for the first time since late July.<\/p>\n\n\n\n