Treasury Yields Fall as AI Shares Lead Equity Sell-Off — SkimNews
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- Treasury yields fell Wednesday: the benchmark 10-year note yield dropped 2 basis points to 4.9291%, while the 30-year and 2-year yields slipped 1 basis point each to 5.3093% and 4.5996%, respectively.
- CNBC Election Desk assessed Democrats as on course for a clean sweep, with the party winning at least the House and projected to win the Senate.
- Associated Press projected Democrats had flipped Senate seats from Republicans in seven states: Iowa, Kansas, North Carolina, Ohio, South Carolina, Maine and Texas.
- S&P 500 futures were seen 0.17% lower as election results rolled in and stock futures fell sharply.
- Nasdaq-100 futures slid 0.25%, contributing to the broader decline in equity contracts.
- Democrats drew investor fears that the party would slow the data-center buildout, and AI-related shares paced the overnight decline on that concern.
Why it matters: The safety bid was tangible for bond buyers: the 10-year Treasury yield fell 2 basis points to 4.9291% as Democratic sweep prospects pressured equities. The underplayed transmission was to AI-led shares, which paced the sell-off over concern that a Democratic outcome would slow the data-center buildout.
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