Dow posts worst week in two years

The Dow traded around 100 points lower Tuesday after a hot start to the week.

Investors are resetting after a “nice two-day bounce back,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

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The Dow added 410 points, or 1.7%, on Monday in addition to 331 points on Friday to brush off a tumultuous week.

“The market is actually always going to be a battle between optimists in addition to pessimists,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “The optimists have run out of buying power for the moment.”

The National Federation of Independent Business’ optimism index rose in January, the organization announced early Tuesday. Boockvar said the report was another sign which inflationary pressures are building.

Inflation concerns investors because the idea could lead the Federal Reserve to hike interest rates more quickly than planned. which could make the cost of borrowing higher in addition to could put a dent into corporate profits.

Last Monday, the Dow plunged 1,175 points — its worst decline in history — following a report which wages grew at the fastest pace since 2009.

Investors will be watching Wednesday’s Bureau of Labor Statistics consumer cost index data closely for a pickup in inflation. On Thursday, the producer cost index comes out.

Both reports have taken on added significance, according to Quincy Krosby, chief market strategist at Prudential Financial.

“We’re looking for a pattern via different perspectives on inflation. We saw wages beginning to show traction. We’ll see if these reports also indicate which inflation is actually in fact gaining,” she said.

If the consumer cost data comes in higher than investors expect, the idea may lead to a pickup in selling, predicted McMillan.

European markets posted mild losses in early trading on Tuesday, while stocks fared better in Asia.

The Hong Kong in addition to Shanghai markets were the biggest gainers, adding around 1%. Japan’s Nikkei began the day strong before sliding into the red from the afternoon, losing 0.7%.

Calm hasn’t exactly returned to Wall Street, yet after six straight days of at least 500-point swings, Monday was somewhat of a respite. The VIX, Wall Street’s volatility gauge, fell 12% on Monday after spiking last week. the idea was up slightly early Tuesday.

Related: Dow shoots 410 points higher: is actually the worst over?

“You very rarely have a recovery via the kind of pullback which we saw taking place last week in one day,” said Krosby. “Markets need to test. in addition to they test, in addition to they test before they find an equilibrium. which’s normal in addition to the idea’s expected.”

So far, the Dow has recovered more than a quarter of the 2,756 points the idea lost between the peak on January 26 in addition to the closing low on Thursday.

Despite the comeback on Monday, the Dow in addition to S&P 500 remain down slightly for the year. The Nasdaq is actually up 1.1% in 2018.

The stock market has been taking cues via the bond market. The 10-year Treasury yield, which reflects inflation worries, is actually trading near a four-year high. Higher returns for ultra-safe government bonds could hurt demand for riskier assets like stocks.

— Charles Riley, Sherisse Pham, Jethro Mullen in addition to Matt Egan contributed reporting to This kind of story.

sy88pgw (fresh York) First published February 13, 2018: 1:08 AM ET