Reported 2 days ago
Stocks and bond ETFs saw significant declines following the Bureau of Labor Statistics' report of stronger-than-expected job growth in December, with employers adding 256,000 jobs. The unemployment rate dropped to 4.1%, leading to a spike in bond yields, as the 10-year Treasury bond yield reached 4.79%, its highest since late 2023. The market reacted with notable losses in major ETFs, with fears of a potential stock market correction due to high valuations and rising interest rates.
Source: YAHOO