From The Economic Times · Reuters · · 1m 20s
US Stocks Drop as Treasury Yields Climb
US markets fall after Treasury yields rise, sparking inflation fears.
In brief
US markets fall after Treasury yields rise, sparking inflation fears. US stocks closed lower as Treasury yields climbed, reviving inflation concerns and debt worries after hitting record highs. Originally reported by The Economic Times.
Wall Street Closes Lower
Wall Street closed lower on Wednesday as long-dated US Treasury yields resumed their climb.
S&P 500 and Dow Snap Winning Streak
The S&P 500 and Dow were poised to snap their four-day winning streaks, with the Nasdaq on track for its first down day in six.
Treasury Yields Touch 24-Year High
The 30-year Treasury bond yield touched a 24-year high, reviving inflation worries and raising central bank rate hike chances.
Oil Prices Rise Due to Iran Concerns
Iran war-related supply concerns led to soaring oil prices, which revived inflation fears and raised the chance of a prolonged central bank rate hike cycle.
Investor Relief on Oil Prices
Investors sought relief on oil prices after the International Energy Agency agreed to speed up oil stock releases, prioritizing diesel.
Fed Rate Hike Expectations Shift
The market now prices in less than a 20% chance of a second Fed rate hike by October, down from 37.6% a week ago.
Stocks Fall as Oil Prices Drop
Stocks pared losses after crude prices turned lower following the International Energy Agency's agreement to speed up oil stock releases.
The short version
US stocks closed lower as Treasury yields climbed, reviving inflation concerns and debt worries after hitting record highs.
