Reported 4 months ago
US stocks fell for a second day as the Dow Jones Industrial Average declined by over 300 points due to an increase in Treasury yields. A $44 billion auction of seven-year Treasury notes was met with tepid demand, marking the third event this week to trigger concerns of oversupply amidst expectations of higher interest rates. The 10-year bond saw a seven basis points increase to 4.61%, with investors keeping an eye on upcoming first-quarter GDP and inflation data. The Nasdaq Composite also dipped, with notable gains by Nvidia. In commodities, oil prices fell, gold dropped, and Bitcoin saw a decline. Veteran investor John Hussman warned of a potential 70% stock market decline amid extreme FOMO.
Source: YAHOO