Reported 4 months ago
Stocks slid and Treasury yields spiked on inflation concerns, prompting a pullback from near-record highs, with the Dow Jones Industrial Average dropping 1.06%, the S&P 500 slipping 0.74%, and the Nasdaq losing 0.58%. Bond investors are particularly sensitive to inflation risks, reflecting in a 4.9% decline in global government bond portfolios for the year. This was driven by concerns that faster inflation may keep Federal Reserve borrowing rates high, as highlighted by a lackluster interest in Treasury auctions and a spike in yields, with the 10-year note trading at 4.594% and 2-year notes at 4.962%. Additionally, American Airlines shares tumbled, while mortgage rates rose, and former President Trump reportedly held talks with Tesla CEO Elon Musk.
Source: YAHOO