Stock Market Today: Dow Slips After Travelers' Earnings Miss

The property and casualty insurer posted a bottom-line miss as catastrophe losses spiked.

Travelers Insurance logo on smartphone with red and white checked background
(Image credit: Igor Golovniov/SOPA Images/LightRocket via Getty Images)

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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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.