US stock markets: renewed increase in bond yields is weighing on Wall Street - Dow closes more than 700 points down
The effect of the bond interventions is only short-term. On Thursday, high bond yields are once again weighing on stock prices on Wall Street.
US bond yields rose again on Thursday, with 30-year government bond yields up five basis points to 5.243%, pressuring stock markets. The Dow Jones index fell 1.3% or over 700 points, while the S&P 500 and Nasdaq also declined. The increases come despite US Treasury Minister Scott Bessent's announcement of bond buybacks, which had briefly calmed markets.
Oil prices also rose, with Brent and WTI up 2-2.5% to $93.39 and $87.93 per barrel, amid concerns over the Iran conflict. Meanwhile, Bitcoin rose 5% to $72,512, its first time above $70,000 since early June.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.