US Stocks Fall as Bond Yields Surge on Oil, Strong Data — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- US stocks fell after bond yields jumped, driven by higher oil prices and a stronger-than-expected economic report.
- Nasdaq retreated from its record high while a deepening Treasury selloff pushed Treasury prices lower across the curve.
- The oil price jump fueled bets the Federal Reserve could resume rate hikes, per Bloomberg's Markets Wrap framing.
Why it matters: Spiking oil prices and stronger-than-expected economic data fueled bets the Fed could hike rates, and that repricing — visible in surging Treasury yields — dragged equities lower, with the Nasdaq giving back record territory it had recently set.
Ask SkimNews
