Dow Jones, S&P 500, Nasdaq: Interest rate concerns push 10-year US bonds above 5.1 percent
Rising oil prices are once again weighing on sentiment on the US stock exchanges. New interest rate concerns are driving the yield on the 10-year US government bond to its highest level since 2007.
US stock indexes fell on Wednesday, giving back some of their gains from the previous two days. The Dow Jones dropped 0.6% to 51,534 points, while the S&P 500 and Nasdaq lost 0.7% and 1.1% respectively. Fed Director Michael Barr's comments that multiple interest rate hikes are likely needed to combat inflation dampened sentiment, particularly in tech stocks.
The 10-year US benchmark bond yield hit its highest level since 2007 amid concerns about interest rates. The S&P Global purchasing managers' index showed the economy grew at its fastest pace in over five years in September, but with significant supply chain bottlenecks.
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.
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