Stock Market Today: Dow Steady, Yields Edge Higher
US equity markets are drifting lower or trading mixed as Treasury yields jump. Dow futures remained steady initially, but intraday trading saw equity markets fall while bond yields rose. This volatility coincides with swinging oil prices, which previously cheered Asian shares before shifting. While a tech rally continues in some sectors, the broader market is reacting to rising yields and instability in the bond market. Investors continue to buy bonds despite the 10-year Treasury experiencing its worst run in over 100 years.
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- ✓ Treasury yields are rising.
- ✓ Equity markets fell during intraday trading.
- ✓ The 10-year Treasury is experiencing its worst run in over 100 years.
What changed
Equity markets shifted from steady futures to intraday losses as Treasury yields jumped.
Live updates
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Wall Street Drifts Lower as Treasury Yields Climb
US equity markets are drifting lower or trading mixed as Treasury yields jump. Dow futures remained steady initially, but intraday trading saw equity markets fall while bond yields rose. This volatility coincides with swinging oil prices, which previously cheered Asian shares before shifting. While a tech rally continues in some sectors, the broader market is reacting to rising yields and instability in the bond market. Investors continue to buy bonds despite the 10-year Treasury experiencing its worst run in over 100 years.
Why it matters
The current volatility follows a bounce in stocks after a Federal Reserve meeting on Thursday. Market sentiment is currently strained by high borrowing levels in developed nations. The conflict between rising yields and equity prices typically pressures stock valuations.
What is confirmed
- Treasury yields are rising.
- Equity markets fell during intraday trading.
- The 10-year Treasury is experiencing its worst run in over 100 years.
Still unconfirmed
- Markets are reacting to reckless borrowing in the rich world.
- Asian shares rose due to a US rally and easing oil prices.
What to watch next
- Further movement in 10-year Treasury yields
- Oil price stabilization
- Next Federal Reserve policy announcement
confidence 80%Sources used for this update (8)
- The Economist — Markets are waking up to the rich world’s reckless borrowing
- MarketWatch — The 10-year Treasury is having its worst run in over 100 years. Why investors are buying bonds anyway.
- CNBC — Stock futures are little changed after Thursday's post-Fed bounce: Live updates
- AP News — Asian shares mostly rise, cheered by a US rally and easing oil prices
- WSJ — Stock Market Today: Dow Futures Steady, Tech Rally Continues— Live Updates
- Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq mixed as oil prices rise
- Yahoo Finance — Update: Equity Markets Fall Intraday; Treasury Yields Jump
- Los Angeles Times — Wall Street drifts lower as bond yields rise and oil prices swing
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