Dow Drops Nearly 400 Points; Treasury Yields Climb 

All three major U.S. indexes were in the red, with the Dow industrials declining nearly 1%, as investors are once again getting jittery about the interest-rate outlook.

Goldman Sachs executive Beth Hammack named next president of Cleveland Fed 

Beth Hammack, a top executive at Goldman Sachs, will become the next president and chief executive of the Federal Reserve Bank of Cleveland, the bank said Wednesday.

Mortgage rates inch up for the first time in a month, spooking home buyers 

Mortgage applications fell 5.7% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.05%.

Bank of Japan Reports Record Stock Gains for Last Financial Year 

Japan's central bank reported record unrealized gains on its stockholdings in the financial year that ended March, reflecting historic rises in Tokyo shares.

IMF Raises China Economic Growth Forecasts 

China's economic outlook seems brighter after a strong first-quarter performance and recent policy stimulus, the International Monetary Fund said as it raised growth forecasts for the country.

China's Biggest Cities Continue to Ease Home-Buying Policies 

More of China's biggest cities are easing home-buying policies, after top leaders recently signaled a shift to aggressive measures to resolve the country's ongoing property crisis.

Hannon's Take: A Soft Landing From the Putin Shock 

It seems increasingly likely that Europe's economy is on the mend, even if it will never be quite the same again.

German Consumer Confidence Continues to Improve 

The GfK forward-looking consumer-climate index for Germany forecast a rise in confidence in June, increasing for a fourth month in a row, as purchasing power is set to improve with easing inflation.

One of Wall Street's Biggest Bulls Got More Bullish. There Is Reason for Caution. 

Analysts are raising their market forecasts based on growing corporate earnings, but there are also some contrarian signs.

BOJ's Adachi Says Further Policy Changes Need to Proceed Carefully 

The Bank of Japan will need to proceed carefully with any further policy changes, policy board member Seiji Adachi said, stressing that the central bank's decision to end easing measures wasn't a shift toward monetary tightening.

(END) Dow Jones Newswires

05-29-24 1515ET